Check my work 4 Part of 1 po Required information Convers Corporation (calendar year-end) acquired the following assets during the current tax year: (ignore 5179 expense and bonus depreciation for this problemy (Use MACRS Table 1. Table 2 and Table 5 Date Pined in original At Service Date Machinery Detober 25 $ 70.000 Computer equipment February 10,000 Delivery truck March 17 23,000 Furniture April 22 150.000 Total 3253,000 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 a. What is the allowable MACRS depreciation on Convers's property in the current year assuming Convers does not elect 5179 expense and elects out of bonus depreciation? MARS depreciation Table 1 MACRS Hall Year Convention 6.23 Depreciation Rate for Recovery Period 3-Year 8. Year 7. Year 10-Year 15. Year 33.33% 20.005 14.294 10.00% 5.009 44.45 32.00 24.49 18.00 9.50 14.81 19.20 1749 14:40 8.55 741 11.52 1249 11.32 7.20 1152 8.93 9.22 6.93 5.76 8.92 7.37 8.93 6.55 5.90 4.46 6.55 5.90 5.91 6.55 5.90 3.28 5.91 5.90 5.91 5.90 5.91 2.95 Year 1 Year 2 Year 3 Year 4 Year 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 Year 21 656 20-Year 3.7504 7219 6.677 6.177 5.713 5,285 4,888 4.522 4462 4.461 4462 4.461 4.462 4.461 4.462 4.461 4.462 4.461 4.462 4.461 2.231 TABLE 20 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% 17.8596 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 2 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 2 30.00 2347 Year 3 18.00 16.76 Year 4 11.37 1197 Year 5 11.37 8.87 Year 6 4.26 887 Year 7 8.87 Years 3.14 TABLE 26 MACRS Mid Quarter Convention For properly placed in service during the third quarter Depreciation Rate for Recovery Period 5-Year 7-Year Year 1 15.00 10.715 Year 2 34.00 25.51 Year 2040 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% 3.579 Year 2 38.00 2755 Year 3 22.80 19.68 Year 4 13.68 1406 Year 5 10.94 10.04 Year 6 9.58 8.73 8.73 Year 7 Year 8 7.64 TABLE 5 Nonresidential Real Property Mid-Month Convention Straight Live Years for assets placed in service on er after May 13, 1993) Month Property Maced in Service Month 1 Meath Month Moth 4 Months Month 6 Month 2 Month Moth Veur 24615 2247 2001 1104 1.00 1.3914 1122 0. 0.00 Year 2-39 2564 2.364 2.564 2560 2564 255 2564 2564 Year 10 0102 0301 0.535 0.749 0.061 1177 1391 10 1819 Math 10 0515 31564 2011 Muntil 0.31 2564 Mail 0.10 2.4 2461 2564 Ce my work 5 Part 2 1 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 (US MACRS Table 1. Table and Table Bated in Diginal vie MONEY October 25 $ 70,010 Computer aliment Tab 3 10,000 Delivery truck March 11 33,000 Torniture April 22 110.000 Total 5253.000 "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