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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.) Asset Machinery Computer equipment Delivery trucks Furniture Date Placed in Service October 25 February 3 March 17 Original Basis $ 84,000 24,000 37,000 Total April 22 *The delivery truck is not a luxury automobile. 164,000 $309,000 In addition to these assets, Convers Installed qualified real property (MACRS, 15 year, 150% DB) on May 12 at a cost of $440,000. Problem 10-54 Part a (Algo) p. What is the allowable MACRS depreciation on Convers's property in the current year assuming Convers does not elect 179 expense and elects out of bonus depreciation? Note: Round your intermediate calculations to the nearest whole dollar amount.
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