Question
DLW Corporation acquired and placed in service the following assets during the year: Asset Date Acquired Cost Basis Computer equipment 3/9 $ 15,800 Furniture 5/23
DLW Corporation acquired and placed in service the following assets during the year:
Asset | Date Acquired | Cost Basis |
---|---|---|
Computer equipment | 3/9 | $ 15,800 |
Furniture | 5/23 | $ 23,200 |
Commercial building | 10/19 | $ 347,000 |
Assuming DLW does not elect 179 expensing and elects not to use bonus depreciation, answer the following questions: (Use MACRS Table 1, Table 2, Table 3, Table 4 and Table 5.) (Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount.)
a. What is DLW's year 1 cost recovery for each asset?
|
b. What is DLW's year 3 cost recovery for each asset if DLW sells these assets on 4/16 of year 3?
Asset Year 3 Cost Recovery
Computer equipment
Furniture $2,029
Commercial building
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