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Convers Corporation (June 30 year-end) acquired the following assets during the current tax year (ignore 179 expense and bonus depreciation for this problem): (Use MACRS
Convers Corporation (June 30 year-end) acquired the following assets during the current tax year (ignore 179 expense and bonus depreciation for this problem): (Use MACRS Table 1 and Table 2.)
Date Placed | Original | ||
Asset | in Service | Basis | |
Machinery | April 22 | $ | 70,000 |
Computer equipment | February 3 | 10,000 | |
Used delivery truck* | March 17 | 23,000 | |
Furniture | October 25 | 150,000 | |
Total | $ | 253,000 | |
|
*The delivery truck is not a luxury automobile.
What is the allowable MACRS depreciation on Converss property in the current year?
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