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Debra acquired the following new assets during 2013: Date Asset Cost April 11 Office Furniture $40,000 July 28 Trucks 40,000 November 3 Computers 70,000 Debra

Debra acquired the following new assets during 2013:

Date Asset Cost
April 11 Office Furniture $40,000
July 28 Trucks 40,000
November 3 Computers 70,000

Debra does not elect immediate expensing under 179. She does take the additional first-year depreciation.

If required, round your answers to the nearest dollar. Click here to access Table 8.1 and Table 8.2 of the textbook.

a. What MACRS convention applies to the assets? SelectMid-quarterMid-monthHalf-year Item 1

b. What class of property is each asset for MACRS? SelectFurniture, seven-year; trucks, five-year; computers, five-yearFurniture, five-year; trucks, three-year; computers, three-yearFurniture, seven-year; trucks, three-year; computers, five-yearFurniture, five-year; trucks, five-year; computers, five-year Item 2

c. The cost recovery for the current year is:

Furniture: $
Trucks: $
Computers: $

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