Question
Harris Corp. is a technology start-up and is in its second year of operations. The company didnt purchase any assets this year but purchased the
Harris Corp. is a technology start-up and is in its second year of operations. The company didnt purchase any assets this year but purchased the following assets in the prior year:
Placed in Asset Service Basis Office equipment August 14 $ 11,600 Manufacturing equipment April 15 84,000 Computer system June 1 32,000 Total $ 127,600 Harris did not know depreciation was tax deductible until it hired an accountant this year and didnt claim any depreciation deduction in its first year of operation.
(Use MACRS Table 1 and Table 2.) (Round your intermediate dollar calculations and final answer to the nearest whole dollar amount.)
a. What is the maximum amount of depreciation deduction Harris Corp. can deduct in its second year of operation?
DEPRECIATION EXPENSE = ?? (FYI _$34549 & $32957 are not correct)
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