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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 Table 1,
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, Table2, and Table 5.) Original Asset Machinery Computer equipment Used delivery truck* Furniture Total Date Placed in Service October 25 February 3 March 17 April 22 $ 102,000 $ 42,000 $ 55,000 $ 182,000 $ 381,000 *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 $620,000. Problem 10-54 Part a a. 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? (Round your intermediate calculations to the nearest whole dollar amount. MACRS depreciation 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)? MACRS depreciation 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, Table2, and Table 5.) Original Asset Machinery Computer equipment Used delivery truck* Furniture Total Date Placed in Service October 25 February 3 March 17 April 22 $ 102,000 $ 42,000 $ 55,000 $ 182,000 $ 381,000 *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 $620,000. Problem 10-54 Part a a. 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? (Round your intermediate calculations to the nearest whole dollar amount. MACRS depreciation 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)? MACRS depreciation
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