COMPREHENSIVE PROBLEMS Select problems are available with Connect. 75. Back in Boston, Steve has been busy creating and managing his new company tax forms Teton Mountaineering (TM), which is based out of a small town in Wyoming. In the process of doing so, TM has acquired various types of assets. Below is a list of as- sets acquired during 2016: Asset Cost Date Placed in Service ueae omice furniture Machinery Used delivery truck $ 10,000 560,000 5.000 02/03/2016 07/22/2016 08/17/2016 Sume 5yeae Not considered a luxury automobile, thus not subject to the luxury automobile imitations During 2016, TNI had huge success (and no 179 limitations) and Steve acquired more assets the next year to increase its production capacity. These are the assets acquired during 2017: Asset Cost Date Placed in Service Computers & info. system Luxury auto Assembly equipment 03/3 1/2017 05/26/2017 08/15/2017 40,000 80,000 475.000 400,000 1/13/2017 -Storage building Used 00% for business purposes