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Convers Corporation (calendar year-end) acquired the following assets during the current tax year: (ignore 179 expense and bonus depreciation for this problem): (Use MACRS
Convers Corporation (calendar year-end) acquired the following assets during the current tax year: (ignore 179 expense and bonus depreciation for this problem): (Use MACRS Table 1, Table 2, and Table 5.) Machinery Date Placed in Service October 25 Original Basis $ 98,000 38,000 Asset Computer equipment February 3 March 17 April 22 Total $ 365,000 Delivery truck Furniture 51,000 178,000 *The delivery truck is not a luxury automobile. In addition to these assets, Convers installed qualified real property (MACRS, 15 year, 150% DB) on May 12 at a cost of $580,000. Problem 10-54 Part b (Algo) 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 179 expense)? Note: Round your intermediate calculations to the nearest whole dollar amount. MACRS depreciation
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