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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: Assuming Anna does not
At the beginning of the year, Anna began a calendar-year business and placed in service the following assets during the year: 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. b. What is Anna's year 2 cost recovery for each asset? Answer is complete but not entirely correct. Table 1 MACRS Half-Year Convention TABLE 2a MACRS Mid-Quarter Convention: For property placed in service during the first quarter TABLE 3 Residential Rental Property Mid-Month Convention Straight Line-27.5 Years TABLE 4 Nonresidential Real Property Mid-Month Convention Straight Line-31.5 Years (for assets placed in service before May 13, 1993) ABLE 5 Nonresidential Real Property Mid-Month Convention Straight Line-39 Years (for assets placed in service on or after May 3, 1993)
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