Question
DLW Corporation acquired and placed in service the following assets during the year: Date Cost Asset Acquired Basis Computer equipment 3/3 $ 17,000 Furniture 1/19
DLW Corporation acquired and placed in service the following assets during the year: Date Cost Asset Acquired Basis Computer equipment 3/3 $ 17,000 Furniture 1/19 25,700 Commercial building 9/22 321,000 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.)
b. What is DLW's year 3 cost recovery for each asset if DLW sells all of these assets on 2/2 of year 3?
Asset | Year 3 Cost Recovery |
Computer Equipment | |
Furniture | |
Commercial Building | |
Total |
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