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I'm a little lost on how they went from 92,000 to 70,000 and so on? Convers Corporation (June 30 year-end) acquired the following assets during
I'm a little lost on how they went from 92,000 to 70,000 and so on?
Convers Corporation (June 30 year-end) acquired the following assets during the current tax year (ignore 179 expense and bonus depreciation for this problem): |
Asset | Placed in Service Date | Original Basis | |
Machinery | December 15 | $ | 92,000 |
Computer equipment | March 13 | 16,200 | |
Used delivery truck* | February 26 | 41,000 | |
Furniture | April 13 | 164,000 | |
Total | $ | 313,200 | |
*The delivery truck is not a luxury automobile. |
What is the allowable MACRS depreciation on Convers property in the current year? (Use MACRS Table 1,Table 2, Table 3, Table 4 and Table 5.) (Round your intermediate percentage values to 2 decimal places.)
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