GPE had the following fixed assets in service: Item Computer equipment Copier Vending Machine Packaging Equipment Computers Office desks Warehouse (new build) Life of asset 5 years 5 years 7 years 7 years 5 years 7 years 39 years Date Purchased 10/31/2020 02/03/2021 08/17/2021 9/22/2021 03/31/2022 10/15/2022 5/12/1994 Amount $530,000 $11,550 17,000 565,000 385,000 880,000 1,540,000 GPE would like to take advantage of 179 expensing, but elects out of bonus depreciation, for purchases in 2022. The company has not taken either of these additional depreciation options in prior years. GPE listed some equipment for sale. The computer equipment, purchased on 10/31/2020, sold on 03/15/2022 for $421,000. They also sold the packaging equipment, purchased on 9/22/2021, on 12/15/2022 for $462,000.

GPE had the following fixed assets in service: GPE would like to take advantage of 179 expensing, but elects out of bonus depreciation, for purchases in 2022. The company has not taken either of these additional depreciation options in prior years. GPE listed some equipment for sale. The computer equipment, purchased on 10/31/2020, sold on 03/15/2022 for $421,000. They also sold the packaging equipment, purchased on 9/22/2021, on 12/15/2022 for $462,000