Question
Convers Corporation (June 30 year-end) acquired the following assets during the current tax year (ignore 179 expense and bonus depreciation for this problem): Asset Placed
Convers Corporation (June 30 year-end) acquired the following assets during the current tax year (ignore 179 expense and bonus depreciation for this problem):
| Asset |
| Placed in Service Date | Original Basis |
| Machinery | October 25 | $60,000 | |
| Computer Equipment | February 3 | $10,000 | |
| Used Delivery Truck* | March 17 | $23,000 | |
| Furniture |
| April 22 | $140,000 |
| Total |
|
| $233,000 |
*The delivery truck is not a luxury automobile.
What is the allowable MACRS depreciation on Convers property in the current year?
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Auditing a business risk appraoch
Authors: larry e. rittenberg, bradley j. schwieger, karla m. johnston
6th Edition
9780324645095, 324645090, 978-0324375589
