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Evergreen Corporation (calendar-year-end) acquired the following assets during the current year: (ignore S179 expense and bonus depreciation for this problem): (Use MACRS Table 1 and
Evergreen Corporation (calendar-year-end) acquired the following assets during the current year: (ignore S179 expense and bonus depreciation for this problem): (Use MACRS Table 1 and Table 2.) Date Placed in Service Original Basis $ 70,000 10,000 23,000 Asset Machinery Computer equipment Used delivery truck* Furniture October 25 February 3 August 17 April 22 150,000 *The delivery truck is not a luxury automobile. a. What is the allowable MACRS depreciation on Evergreen's property in the current year, assuming Evergreen does not elect $179 expense and elects out of bonus depreciation? MACRS depreciation Brittany started a law practice as a sole proprietor. She owned a computer, printer, desk, and file cabinet she purchased during law school (several years ago) that she is planning to use in her business. FMV at Time Purchase Converted to Price Business Use Asset $5,500 3,300 $3,800 Computer Printer 3,150 4,000 Desk 4,200 3,200 File cabinet 3,225 Using the above information, what is the depreciable basis that Brittany should use in her business for each asset? Asset Depreciable Basis Computer Printer Desk File cabinet
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