(Click the icon to view the MAC Liitto Corporation acquired and placed in service the following 100% business-use assets. Little did not claim Sec 179 or bonus depreciation expensing on any of those properties Click the icon to view the business-use assets.) Read the requirements (Click the icon to view the MAC in the first quarter.) (Click the icon to view the MAC in the fourth quarter.) (Click the icon to view the MAC Requirement a. What is Little's total depreciation deduction in 2020? (Uso MACRS ratos to three decimal places, XXXX%. Round all amounts to the depreciation is allowed.) Assot 2020 Depreciation Truck Machinery Land Building Total depreciation Requirement b.Lee Corporation letto machinery on February 2, 2022 and sells the building on September 16, 2022. What are the adjusted bases of these two essere on the datos of sale (compa Documented depreciation to date of sale? Select the formula and enter the amounts to compute the adjusted basis of the two sets on the sale de (Us MACR ratos to the decimal places, XXX Round unter manual depreciation calculators and your finalanowers to the rest doar Asset Acuted basis at time of Machinery Pulang HU - X More info bint-line rates for 39-year property.) . e two assets on the dates of sale (comp = the machinery le)? mts to computer Truck (light-duty, modified non-personal use) costing $40,000: Placed in service on March 3, 2020 with a 5-year MACRS recovery period. Machinery costing $76,000 Placed in service on November 15, 2020 with a 7-year MACRS recovery period. Land costing $88,000. Placed in service on October 12, 2020 Building costing $250,000: Placed in service on December 4, 2020 with a 39-year MACRS recovery period. %. Round interim annual depreciation - Hollar) Print Done Time Remaining: 01:19:06 a. What is Little's total depreciation deduction in 2020? b. Little Corporation sells the machinery on February 2, 2022 and sells the building on September 18, 2022. What are the adjusted bases of these two assets on the dates of sale (compute accumulated depreciation to date of sale)? the machinery He)? uts to compute til ollar) e two assets on the da %. Round interim annu Print Done al Exam Reference Sint($) possible red and plad s depreciate ew the busi f-year convention rat -quarter convention b-quarter convention ight-line rates for 39 General Depreciation System--MACRS Personal Property Placed in Service After 12/31/86 Applicable Convention: Half-Year Applicable Depreciation Method: 200 or 150 Percent Declining Balance Switching to Straight Line Recovery period and Depreciation Rates Recovery Year 3-Year 5-Year 7-Year 10-Year 15-Year 20-Year Year 1 33.33 20.00 14.29 10.00 3.750 Year 2 44.45 32.00 24.49 18.00 9.50 7.219 Year 3 14.81 19.20 17.49 14.40 8.55 6,677 Year 4 7.41 11.52 12.49 11.52 7.70 6.177 Year 5 11.52 8.93 9.22 6.93 5.713 Year 6 5.76 8.92 7.37 6.23 5.285 5.00 pse two assets on the Corporation tion to date a X%. Round interim a enter the an to the near reciate e busid 44.45 14.81 7.41 20. 32,00 19 20 11.52 11.52 5.76 b-quarter convention rates for prope b-quarter convention rates for prope 14.2 2449 17.49 12.49 8.93 8.92 8.93 4.46 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Year 11 Year 12 Year 13 10.00 18.00 14.40 11.52 9.22 7.37 6.55 6.55 6.56 6.55 3.28 pight-line rates for 39-year property 5.0 9.50 8.55 7.70 6.93 6.23 5.90 5.90 5.91 5.90 5.91 5.90 5.91 3.750 7.219 6.677 6.177 5.713 5.285 4.888 4.522 4.462 4.461 4.462 4.461 4.462 oration dated use two assets on the dates of sale -the an near X%. Round interim annual deprecia 5.91 5.90 5.91 2.95 pight-line rates for 39 Year 13 Year 14 Year 15 Year 16 Year 17 Year 18 Year 19 Year 20 Year 21 4.462 4.461 4.462 4.461 4.462 4.461 4.462 4.461 2.231 pse two assots on the EX%. Round interim ani en ang se nvention rates.) convention rates convention rates rates for 39-year General Depreciation System--MACRS Personal Property Placed in Service After 12/31/86 Applicable Convention: Mid-Quarter (Property Placed in Service in First Quarter) Applicable Depreciation Method: 200 or 150 Percent Declining Balance Switching to Straight Line Recovery period and Depreciation Rates Recovery Year 3-Year 5-Year 7-Year 10-Year 15-Year 20-Year Year 1 58.33 35.00 25.00 17.50 8.75 6,563 Year 2 27.78 26.00 21.43 16.50 9.13 7.000 Year 3 12.35 15.60 15.31 13.20 8.21 6.482 Year 4 1.54 11.01 10.93 10.56 7.39 5.996 Year 5 11.01 8.75 8.45 6.65 5.546 Year 6 1.38 8.74 6.76 5.99 5.130 ssets on the dates to r. nd interim annual vention rates for propery 1.54 11.01 11.01 1.38 10.93 8.75 convention rates for property 8.74 rates for 39-year property.) 8.75 1.09 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Year 11 Year 12 Year 13 Year 14 Year 15 Year 16 10.56 8.45 6.76 6,55 6.55 6.56 6.55 0.82 7.39 6.65 5.99 5.90 5.91 5.90 5.91 5.90 5.91 5.90 5.91 5.90 0.74 5.996 5,546 5.130 4.746 4.459 4.459 4.459 4.459 4.460 4.459 4.460 4.459 4.460 ssets on the dates of sale (con nd interim annual depreciation 0.74 ssets on the dates of sale (com he )? Year 16 Year 17 Year 18 Year 19 Year 20 Year 21 4.460 4.459 4.460 4.459 4,460 0,557 nd interim annual depreciation sto lar r convention rates for r convention rates for be rates for 39-year pre General Depreciation System-MACRS Personal Property Placed in Service After 12/31/86 Applicable Convention: Mid-Quarter (Property Placed in Service in Fourth Quarter) Applicable Depreciation Method: 200 or 150 Percent Declining Balance Switching to Straight Line Recovery period and Depreciation Rates Recovery Year 3-Year 5-Year 7-Year 10-Year 15-Year 20-Year Year 1 8.33 5.00 3.57 2.50 1.25 0.938 Year 2 61.11 38.00 27.55 19.50 9.88 Year 3 20.37 22.80 19.68 15.60 8.89 6.872 Year 4 10.19 13.68 14.06 12.48 8.00 6.357 Year 5 10.94 10.04 9.98 7.20 5.880 Year 6 9.58 8.73 7.99 6.48 5.439 7.430 assets on the dates o und interim annual de 10.94 9.58 Je rates for 39-yea 10.04 8.73 8.73 7.64 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Year 11 Year 12 Year 13 Year 14 9.98 7.99 6.55 6.55 6.56 6.55 5.74 0.00 7.20 6.48 5.90 5.90 5.90 5.91 5.90 5.91 5.90 5.91 6.357 5.880 5.439 5.031 4.654 4.458 4.458 4.458 4.458 4.458 4458 assets on the date und interim annua 5.90 5.17 Year 15 Year 16 Year 17 Year 18 Year 19 Year 20 Year 21 4.458 4.458 4.458 4.459 4.458 4.459 3.901 assets ont und interim General Depreciation System-MACRS Nonresidential Real Property Placed in Service After 5/12/93 Applicable Recovery Period: 39 years Applicable Depreciation Method: Straight Line Month in the First Recovery Year the Property is placed in Service and Depreciation Rate Recovery Year 1 2 3 4 5 6 7 8 9 10 11 Year 1 2.461 2.247 2.033 1.819 1.605 1.391 1.177 0.963 0.749 0.535 0.321 Years 2-39 2.564 2.564 2564 2564 2.564 2.564 2.564 2.564 2.564 2.584 2.564 Year 40 0.107 0.321 0.535 0.749 0.963 1.177 1.391 1.605 1.819 2.033 2.247 12 0.107 2.564 2.461