Check my work 07 5 Part 2 Required information Convers Corporation calendar year-end) acquired the following assets during the current tax year (ignore 5179 expense and bonus depreciation for this problem (Use MACRS Table 1. Table 2 and Table 5) 1 Date Placed in Original Meet Service Bas Machinery October 25 $ 70,000 Computer equipment February 10,000 Delivery truck March 17 23,000 Turniture April 22 150,000 Total $ 253,000 "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 $300,000 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 5179 expensel? MCS decon Table 1 MACRS Half-Year Convention 20-Year 3.750% 7219 6.677 6.177 5.713 5.285 4888 4.522 8.93 6.23 Depreciation Rate for Recovery Period 3-Year S-Year 7. Year 10-Year 15-Year 33.33% 20.00 14.29% 10.00% 5.006 44 45 32.00 2449 18.00 9.50 14.81 19.20 17.49 1440 8.55 741 11.52 12.49 1152 7.70 11.52 9.22 6.93 5.76 8.92 737 8.93 6.55 5.90 4.46 6.55 5.90 6.56 5.91 6.55 5.90 5.91 5.90 5.91 5.90 5.91 2.95 Year 1 Year 2 Year 3 Year 4 Years Year 6 Year 7 Year 8 Year 9 Year 10 Year 11 Year 12 Year 13 Year 14 Year 15 Year 16 Year 17 Year 18 Year 19 Year 20 4.462 4.461 3.28 4.462 4.461 4.462 4.461 4.462 4.461 4.462 4.461 4 462 4 461 TELLIT Lotion For property placed in service during the first quarter Depreciation Rate for Recovery Period 5. Year 7.Year Year 15.000 35.00 Year 2 20.00 2143 Year 3 1560 15.11 Year 4 11.01 10.99 Years 1101 1.75 Year 6 3X 8.74 Year 7 8775 Year 1.00 "TABLE 21 MACRS Mid-Quarter Convention to properly placed wervice during the second gwr Depreciation Rate for Recovery Period 5-Year 7-Year Yeart 25.00 17.85% Year 2 29.47 Year 3 1800 16.76 Year 4 11.37 1197 Year 5 11.37 BAT Year 426 Year 387 Year 334 TABLE 2 MACRS Mid-Quarter Convention For prone placed in videring the window Depreciation Rate for Recovery Period S.Year 7. Year Year! 15.00'S 10,715 Year 2 34.00 2551 Year 20:40 Year 4 12.24 13.00 40. Year 4 11.37 11.97 Year 5 1137 8.87 Year 6 426 887 Year 7 8.87 Year 8 3:34 TABLE 2 MACRS Mid-Quarter Convention: For property placed in service during the thind quarter Depreciation Rate for Recovery Period 5-Year 7-Year Year 1 15.00 10.71% Year 2 4 DO 25 Si 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 2d 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 4 14.06 Year 5 IO 10.04 Year 6 9.58 8.73 Year 7 8.73 Year 8 7.64 TABLE 5 Nonresidential Real Property Mid-Month Convention Straight Line-Years for wetplaced in service on or after May 13, 1993) Month Property Placed in Serke Month Month 2 Month 3 Month Months Month Month Mowth Methy Year! 246150 2347 2023 119 100% 1.31 1.17 001 0.7495 Year 2-39 2564 3564 2564 2.566 2564 2.564 2564 2564 22564 Year 10 0.107 0.321 0535 0.749 0.963 1177 1:39 1001 LRIO Month 10 0339 2.564 2011 Month 11 031 2564 Meath 12 0.107 2.36 2.461