LO 10-2 50. Way Corporation disposed of the following tangible personal property assets in the current year. Assume that the delivery truck is not a luxury auto. Calculate Way Corporation's 2020 depreciation deduction (ignore $179 expense and bonus depreciation for this problem). Asset Furniture (7-year) Machinery (7-year) Delivery truck* (5-year) Machinery (7-year) Computer (5-year) *Used 100 percent for business, Date Acquired Date Sold Convention Original Basis 5/12/16 7/15/20 HY $ 55,000 3/23/17 3/15/20 MQ 72,000 9/17/18 3/13/20 HY 20,000 10/11/19 8/11/20 MQ 270,000 10/11/20 12/15/20 HY 80,000