Question
Burbank Corporation (calendar-year-end) acquired the following property this year: (Use MACRS Table 1, Table 2 and Exhibit 10-10.) Asset Placed in Service Basis Used copier
Burbank Corporation (calendar-year-end) acquired the following property this year: (Use MACRS Table 1, Table 2 and Exhibit 10-10.) Asset Placed in Service Basis Used copier November 12 $ 12,600 New computer equipment June 6 18,800 Furniture July 15 36,800 New delivery truck October 28 23,800 Luxury auto January 31 74,800 Total $ 166,800 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 Burbanks maximum cost recovery deduction for this year?
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