CARES Problem 10-54 (LO 10-2, LO 10-3) (Algo) Convers Corporation (calendar-year-end) acquired the following assets during the current tax year: Assume CARES Act applies. (ignore $179 expense and bonus depreciation for this problem): (Use MACRS Table 1, Table 2 and Table 5.) Date Placed Original Asset in Service Basis Machinery October 25 $112, 000 Computer equipment February 3 52, 000 Delivery truck# March 17 65,000 Furniture April 22 192, 000 Total $421,000 *The delivery truck is not a luxury automobile. In addition to these assets, Convers installed new flooring (qualified improvement property) to its office building on May 12 at a cost of $720,000. CARES Problem 10-54 Part a (Algo) a. What is the allowable MACRS depreciation on Convers's property in the current year assuming Convers does not elect $179 expense and elects out of bonus depreciation? (Round your intermediate calculations to the nearest whole dollar amount.) Answer is complete but not entirely correct. MACRS depreciation $ 78,398 b. What is the allowable MACRS depreciation on Convers's property in the current year assuming Convers does not elect out of bonus depreciation (but does not take $179 expense)? X Answer is complete but not entirely correct. MACRS depreciation 432,556 X