Asset Problem 10-46 (LO 10-2) (Algo) [The following information applies to the questions displayed below) At the beginning of the current year, Poplock began a calendar year dog boarding business called Griff's Palace. Poplock bought and placed in service the following assets during the year: Date Acquired Cost Basis Computer equipment 3/23 $ 8,000 Dog-grooming furniture 5/12 10,000 Pickup truck 9/17 10,000 Commercial building 10/11 300,000 Land (one acre) 10/11 110,000 Assuming Poplock does not elect 5179 expensing and elects not to use bonus depreciation, answer the following questions: (Use MACRS Table 1. Table 2. Table 3. Table 4 and Table 5.) (Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount. Leave no answer blank. Enter zero if applicable.) Problem 10-46 Part a (Algo) a. What is Poplock's year 1 depreciation deduction for each asset? Asset Depreciation Deduction Computer equipment Dog-grooming furniture Pickup truck Commercial building Land (one acre) Total $ 0 Table 1 MACRS Half-Year Convention Depreciation Rate for Recovery Period 3-Year 5-Year 7-Year 10-Year 15-Year Year 1 33.33% 20.00% 14.29% 10.00% 5.00% Year 2 44.45 32.00 24.49 18.00 9.50 Year 3 14.81 19.20 17.49 14.40 8.55 Year 4 7.41 11.52 12.49 11.52 7.70 Year 5 11.52 8.93 9.22 6.93 Year 6 5.76 8.92 7.37 6.23 Year 7 8.93 6.55 5.90 Year 8 4.46 6.55 5.90 Year 9 6.56 5.91 Year 10 6.55 5.90 Year 11 3.28 5.91 Year 12 5.90 Year 13 5.91 Year 14 5.90 Year 15 20-Year 3.750% 7.219 6.677 6.177 5.713 5.285 4.888 4.522 4.462 4.461 4.462 4.461 4.462 4.461 4.462 5.91 2.95 4.461 4.462 Year 16 Year 17 Year 18 Year 19 Year 20 Year 21 4.461 4.462 4.461 2.231