In 2019, Harry began a calendar-year business and placed in service the following assets during the year:

Assuming Harry does not elect 179 expensing and elects not to use bonus depreciation:

Use the MACRS tables and answers the below 2 questions.

a. What is Harrys 2019 cost recovery for each asset?

b. On August 15th, 2020, Harry sells the equipment and the office building. What is Harrys 2020 cost recovery for each of all the assets?

Asset Computers Pickup truck Equipment Office building Land (one acre) Date Acquired 7/15/19 7/15/19 12/10/19 6/30/19 6/30/19 Cost Basis $36,000 15,000 70,000 330,000 120,000