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Burbank Corporation (calendar year-end) acquired the following property this year: (Use MACRS Table 1 , Table 2 and Exhibit 10-10.) Used copier Asset New
Burbank Corporation (calendar year-end) acquired the following property this year: (Use MACRS Table 1 , Table 2 and Exhibit 10-10.) Used copier Asset New computer equipment Furniture New delivery truck Luxury auto Total November 12 June 6 Placed in Service Basis $ 8,600 14,800 32,800 19,800 70,800 $ 146,800 July 15 October 28 January 31 Burbank acquired the copier in a tax-deferred transaction when the shareholder contributed the copier to the business in exchange for stock. (Round your answer to the nearest whole dollar amount.) Problem 10-69 Part a (Algo) a. Assuming no bonus or 179 expense, what is Burbank's maximum cost recovery deduction for this year? Maximum cost recovery deduction
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