Question
DLW Corporation acquired and placed in service the following assets during the year: Asset Date Acquired Cost Basis Computer equipment 2/17 $10,000 Furniture 5/12 $16,000
DLW Corporation acquired and placed in service the following assets during the year:
| Asset | Date Acquired | Cost Basis |
| Computer equipment | 2/17 | $10,000 |
| Furniture | 5/12 | $16,000 |
| Commercial building | 11/1 | $270,000 |
Assuming DLW does not elect 179 expensing and elects not to use bonus depreciation, what is DLWs year 3 cost recovery for each asset if DLW sells all of these assets on 1/23 of year 3?
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Advanced Accounting Study Guide
Authors: Debra C. Jeter, Paul Chaney
3rd Edition
0470130407, 978-0470130407
