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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
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:
\begin{tabular}{lcr|} \hline \multicolumn{1}{c}{ Asset } & Date Acquired & Cost Basis \\ \hline Computer equipment & 3/23 & $5,000 \\ Dog-grooming furniture & 5/12 & 7,000 \\ Pickup truck & 9/17 & 10,000 \\ Commercial building & 10/11 & 270,000 \\ Land (one acre) & 10/11 & 80,000 \end{tabular} \begin{tabular}{|l|l|} \hline Computer equipment & \\ \hline Dog-grooming furniture & \\ \hline Pickup truck & \\ \hline Commercial building & \\ \hline Land (one acre) & \\ \hline Total & $ \\ \hline \end{tabular} \begin{tabular}{lcr|} \hline \multicolumn{1}{c}{ Asset } & Date Acquired & Cost Basis \\ \hline Computer equipment & 3/23 & $5,000 \\ Dog-grooming furniture & 5/12 & 7,000 \\ Pickup truck & 9/17 & 10,000 \\ Commercial building & 10/11 & 270,000 \\ Land (one acre) & 10/11 & 80,000 \end{tabular} \begin{tabular}{|l|l|} \hline Computer equipment & \\ \hline Dog-grooming furniture & \\ \hline Pickup truck & \\ \hline Commercial building & \\ \hline Land (one acre) & \\ \hline Total & $ \\ \hline \end{tabular} Assuming Poplock does not elect 179 expensing and elects not to use bonus depreciation, answer the following questions: Assuming Poplock does not elect 179 expensing
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