23 1 Part 2 of 2 points Skipped ellook Required information. [The following information applies to the questions displayed below) Evergreen Corporation (calendar year-end) acquired the following assets during the current year: (Use MACRS Table 1 and Table 2) Asset Date Placed in Service October 25 February 3 Original Basis Machinery Computer equipment Used delivery truck Furniture August 17 April 22 The delivery truck is not a luxury automobile. $ 114,000 43,000 56,000 205,000 Note: Do not round intermediate calculations. Round your answers to the nearest whole dollar amount. Pret Belerences b. What is the allowable depreciation on Evergreen's property in the current year if Evergreen does not elect out of bonus depreciation and elects out of $179 expense? Depreciation Table 1 MACRS Half-Year Convention Depreciation Rate for Recovery Period 3-Year 5-Year 7-Year 10-Year 15-Year 20-Year Year 1 33.33% 20.00% 14.29% 10.00% 5.00% 3.750% Year 2 44.45 32.00 24.49 18.00 9.50 7.219 Year 3 14.81 19.20 17.49 14.40 8.55 6.677 Year 4 7.41 11.52 12.49 11.52 7.70 6.177 Year 5 11.52 8.93 9.22 6.93 5.713 Year 6 5.76 8.92 7.37 6.23 5.285 Year 7 8.93 6.55 5.90 4.888 Year 8 4.46 6.55 5.90 4.522 Year 9 6.56 5.91 4.462 Year 10: 6.55 5.90 4.461 Year 11 3.28 5.91 4.462 Year 12 5.90 4.461 Year 13 Year 14 Year 15 Year 16 Year 17 Year 18 Year 19 Year 20 Year 21 5.91 4.462 5.90 4.461 5.91 4.462 2.95 4.461 4.462 4.461 4.462 4.461 2.231 *Bookmarks Question Content A... TABLE 24 MACRS Mm-Qunter Contralons; Ze Depreciation Rate for Recovery Period 5 Year 7-Year Year 1 35.00% 25.00% Year 2 26.00 2143 Year 3 15.60 15.31 Year 4 11.01 10.93 Year 5 11:01 8.75 Year 6 138 8.74 Year 7 8.75 Year 8 109 TABLE 26 MACRS Mid Quarter Convention: For property placed in service during the second quarter Depreciation Rate for Recovery Period 5 Year 7-Year Year 1 25.00% 17.85% Year 2 30.00 23:47 Year 3 18.00 16.76 Year 4 11:37 11.97 Year 5 11:37 8.87 Year 6 426 8.87 Year 7 837 3.34 Year 8 TABLE 2 MACRS Mid Quarter Convention: For property placed in service during the third quarter Depreciation Rate for Recovery Period 5-Year 7-Year Year 1 15.00% 10.71% Year 2 34.00 25.51 Year 3 20.40 18.22 Year 4 12.241 13.02 Year 5 11.30 930 Year 6 7.06 3.85 Year 7 886 5.53 Year S TABLE 24 MACRS Mid Quarter Convention: For property placed in service during the fourth quarter Depreciation Rate for Recovery Period 5 Year 7-Year Year 1 5.00% 3.57% Year 2 38.00 27.35 Year 3 22.80 19.68 Year 4 13.68 14.06 Year 5 10.94 10.04 Year 6 9.58 8.73 Year 7 8.73 Year 8 7.64 36F Clear Q Search