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At the beginning of the year, Anna began a calendar-year business and placed in service the following assets during the year: Asset Computers Office
At the beginning of the year, Anna began a calendar-year business and placed in service the following assets during the year: Asset Computers Office desks Machinery Office building Date Acquired Cost Basis 1/30 $ 38,500 2/15 $ 42,500 7/25 $ 85,500 8/13 $ 414,000 Assuming Anna does not elect 179 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.) Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount. a. What is Anna's year 1 cost recovery for each asset? Answer is complete but not entirely correct. Year 1 Cost Asset Recovery Computers $ 7,700 Office desks $ 6,073 Machinery $ 12,218 Office building $ 3,982 X Total $ 29,973
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