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Evergreen Corporation (calendar year-end) acquired the following assets during the current year: Asset Date Placed in Service Original Basis Machinery October 25 $ 70,000 Computer
Evergreen Corporation (calendar year-end) acquired the following assets during the current year:
Asset | Date Placed in Service | Original Basis |
Machinery | October 25 | $ 70,000 |
Computer equipment | February 3 | 10,000 |
Used delivery truck* | August 17 | 23,000 |
Furniture | April 22 | 150,000 |
*The delivery truck is not a luxury automobile.
What is the allowable depreciation on Evergreens property in the current year, assuming Evergreen does not elect 179 expense and elects out of bonus depreciation?
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