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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 equipment February
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 (not a luxury automobile) | August 17 | 23,000 |
Furniture | April 22 | 150,000 |
a) 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?
b) What is the allowable depreciation Evergreens property in the current year if Evergreen does not elect out of bonus depreciation and elects outs 179 Expenses?
If possible, use tables on your answer
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