Chapter 10 4 The vorrowing intormation appwes to the questions ausplayeo Dow) At the beginning of the current year Poplock began a calendar year dog boarding business called Griff's Palace. Poplock bought and placed in service the following assets during the year Part 12 Cost 038 points Computer equipment Dogtooning furniture Pickup truck Commercial building Land (one acre) Date Acquired 3723 5/12 9/17 10/11 10/11 $ 8,200 10,200 10,000 302,000 112,000 Assuming Poplock does not elect 5179 expensing and elects not to te bonus depreciation, answer the following questions (Use MACRS Table 1. Table 2. Table 3. Table 1 and Table 5)(Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount. Leave no answer blank. Enter zero if applicable.) a. What is Poplock's year 1 depreciation deduction for each asset? Depreciation Deduction Asset Computer equipment Dog grooming furniture Pickup truck Commercial building Land Total Chapter 10 5 At the beginning of the current yet Poplock began a calendar year dog boarding business called Grors Palace. Poplock bought and placed in service the following assets during the year Part 2 of 2 Computer Doronin furniture Pickup truch Cordial building Land Concre) Date mund 1/23 5/12 9/17 10/11 Cost $1,200 18,200 10,000 107.000 po Assuming Poplock does not elect5179 expensing and elects not to use bonus depreciation answer the following questions (Une MACRS Tool Toole 2. Table 3. Table and Table 5) (Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount. Leave no answer blank. Enter zero if applicable) b. What is Poplock's year 2 depreciation deduction for each one? Asset Depreciation Deduction Comput Dog grooming furniture Pickup truck Commercial buiding Total Table 1 MACRS Half-Year Convention 20-Year Year 1 Year 2 3.750% 7.219 Year 3 + Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Year 11 Depreciation Rate for Recovery Period 3-Year 5-Year 7-Year 10-Year 15-Year 33.33% 20.00% 14.29% 10.00% 5.00% 44.45 32.00 24.49 18.00 9.50 14.81 19.20 17.49 14.40 8.55 7.41 11.52 12.49 11.52 7.70 11.52 8.93 9.22 6.93 5.76 8.92 7.37 6.23 8.93 6.55 5.90 4.46 6.55 5.90 6.56 5.91 6.55 5.90 3.28 5.91 5.90 6.677 6.177 5.713 5.285 4.888 4.522 4.462 4.461 4.462 4.461 4.462 4.461 Year 12 Year 13 Year 14 Year 15 Year 16 Year 17 Year 18 5.91 5.90 5.91 2.95 4.462 4.461 4.462 4.461 4.462 4.461 Year 19 Year 20 TABLE 2a MACRS Mid-Quarter Convention: For property placed in service during the first quarter Depreciation Rate for Recovery Period 5-Year 7-Year Year 1 35.00% 25.00% Year 2 26.00 21.43 Year 3 15.60 15.31 Year 4 11.01 10.93 Year 5 11.01 8.75 Year 6 1.38 8.74 Year 7 8.75 Year 8 1.09 TABLE 26 MACRS Mid-Quarter Convention: For property placed in service during the second quarter Depreciation Rate for Recovery Period 5-Year 7-Year Year 1 25.00% 17.85% Year 2 30.00 23,47 Year 3 18.00 16.76 Year 4 11.37 11.97 Year 5 11.37 8.87 Year 6 4.26 8.87 Year 7 8.87 Year 8 3.34 TABLE 2c MACRS Mid-Quarter Convention: For property placed in service during the third quarter Depreciation Rate for Recovery Period 5-Year 7-Year Year 1 15.00% 10.71% Year 2 34.00 25.51 Year 3 20.40 18.22 Year 4 12.24 13.02 Year 5 11.30 9.30 Year 6 7.06 8.85 Year 7 8.86 Year 8 5.53 TABLE 20 MACRS-Mid Quarter Convention: For property placed in service during the fourth quarter Depreciation Rate for Recovery Period 5-Year 7-Year Year 1 5.00% 3.57% Year 2 38.00 27.55 Year 3 22.80 19.68 Year + 13.68 14.06 Year 5 10.94 10.04 Year 6 9.58 8.73 Year 7 8.73 Year 8 7.64 Month 12 0.1529 3.636 3.636 TABLE 3 Residential Rental Property Mid-Month Convention Straight Line 27.5 Years Month Property Placed in Service Month 1 Month 2 Month 3 Month 4 Months Month 6 Month 7 Year 1 3.4859 31820 2.87946 2576% 2.2739 1.97096 1667% Year 2.9 3.636 3.636 3.636 3.636 3.636 3.636 3.636 Year 10 3.637 3.637 3.637 13.637 3637 3.637 3.636 Year 11 3.636 3.636 3.636 3.636 3.636 3.636 3.637 Year 12 3.637 3.637 3.637 3.637 3.637 3.637 3.636 Year 13 3.636 3.636 3.636 3.636 3.636 3.636 3.637 Year 14 3.637 3.637 3.637 3.637 3.637 3.637 3.636 Year 15 3.616 3.636 3.636 3.636 3.636 3.636 3637 Year 16 3.63% 3.637 3.637 3.637 3.637 3637 3.636 Year 17 3.636 1.636 3.636 3636 3632 Year 18 3.637 3.637 1.637 3.637 3.632 3.636 Year 19 3.636 3.636 3.636 3.616 3.632 Year 20 3.617 3.637 3.637 3.617 3.637 3,697 3.636 Year 21 3.636 3.636 3.636 3.636 3.6% 1637 Year 22 1.687 1617 1,617 1617 1636 Year 23 3636 3.636 3636 3.636 3.636 36.36 37 Year 24 3637 36X 2617 3637 VAM Year 25 3636 3646 3.636 3.616 3637 Year 26 3.617 1637 3.617 3,637 3.636 Year 27 1616 1.636 1636 3636 2637 Month 8 1.364% 3.636 3.636 3637 1.636 361 1.636 1.632 3:36 3.637 3.636 3.637 1636 3,687 1.637 3.636 3.63 3.636 Month 9 Month 10 Month 11 1.061N 0.758% 0.4555 3.636 3.636 3.636 3.636 3.636 3.636 3.637 3.637 3.627 3.636 3.636 3.636 3.637 3.637 1617 1.636 3.636 3.636 3.617 3.637 1.637 3.636 1.636 3.636 3.6.37 3.637 3.637 3.636 3.636 3.636 3.637 3.67 1637 3.636 3.636 1.636 3.637 3.632 3.637 1.636 3.636 3.65 1617 1617 3.616 3.636 3.636 3.637 3.637 3.627 3.636 3610 3616 1,697 3.617 1636 1.637 36.36 1.637 36.36 3.637 1617 3.636 3.627 1616 3,636 1017 3:15 TABLE 4 Nonresidential Real Property Mid-Month Convention Straight Line 31.5 Years (for awets placed in service before May 13, 1993) Month Property Placed in Service Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Months Month 9 Year 1 3.0429 2.77894 2.51394 2.2499 1.984% 1.7209 1.4559 1.1909 09261 Year 2.7 3.175 3.175 3.175 3.175 3.175 3.175 3.175 3.195 3.135 Year 3.175 3.174 3,175 3.174 3.178 3.175 3.175 Year 9 3.174 3.175 3.175 3174 3.175 3.174 3.175 3.174 Year 10 3:175 3.175 3.174 3.175 3.174 3.174 3.175 Year 11 3.174 3.175 3.174 3.175 3174 3.175 3.174 1.175 3.174 Year 12 3.175 3.174 3175 3.174 3.175 X.174 1.175 Year 13 3174 3.175 3175 1.175 114 1.175 Year 14 3.175 3.174 3.175 3.174 1195 3.174 3175 1174 3.175 Year 15 3.174 3.175 3174 3.175 3174 3,173 3124 3.175 1114 3.175 3.174 3.175 3.175 3174 3.179 144 175 Year 17 3.174 3.175 1.173 3.174 3.175 3.175 1.174 Year 18 3.173 3.175 3.174 15 3.174 3.175 3.174 J.175 Year 19 3.174 3.174 3.175 3.174 3.125 3174 5.195 3.174 Year 20 3.175 3.175 3.174 3.113 3.174 3.175 3.174 3.175 Year 21 3.174 3.173 3.174 3.175 3.174 3.175 3.174 3.175 Year 22 3.175 3.174 3.175 3.174 3.175 3.174 3.179 3.114 175 Year 23 3174 3.175 3.174 3.175 3.174 3.175 3.174 3.115 Year 24 3.175 3.174 3.875 3174 3.175 3.174 1174 3.175 Month 10 0.661% 3.175 3.175 3.475 3.174 3.175 3.174 3.175 174 3.1995 1,194 Menth 11 0.39746 3.175 3.175 3.174 3.175 3.174 2.175 3.174 1125 1.174 1.15 3.174 Year 16 3.17 3175 1.174 3.175 3.174 3.175 3.174 3.173 3.174 3.173 3.174 3.173 3174 TABLE S Nonresidential Real Property Mid-Month Convention Straight Line9 Years (for assets placed in service on or after May 13, 1993) Month Property Placed in Service Month 1 Saath 2 Month Weath 4 Months Month 6 Month 7 Months Montky Year 1 2.4619 1.8199 1.6051 1.3914 1:1779 0,963 0.7499 Year 2-39 2.564 2564 2564 2564 2:56 2.564 2564 Year 40 0107 0.121 0.535 0,740 0.91 191 1.005 119 V Month 10 0.3155 2564 2.033 Month 11 0.1216 22564 2.24%