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Problem 10-50 (LO 10-2) Way Corporation disposed of the following tangible personal property assets in the current year. Convention Date Acquired 5/12/15 3/23/16 9/17/17 10/11/18
Problem 10-50 (LO 10-2) Way Corporation disposed of the following tangible personal property assets in the current year. Convention Date Acquired 5/12/15 3/23/16 9/17/17 10/11/18 10/11/19 Asset Furniture (7-year) Machinery (7-year) Delivery truck* (5-year) Machinery (7-year) Computer (5-year) Date Sold 7/15/19 3/15/19 3/13/19 8/11/19 12/15/19 MO Original Basis $ 55,000 72,000 20,000 270,000 80,000 HY MO HY *Used 100 percent for business. Assume that the delivery truck is not a luxury auto. Calculate Way Corporation's 2019 depreciation deduction (ignore $179 expense and bonus depreciation for this problem). (Use MACRS Table 1, Table 2, and Exhibit 10-6.) (Round your intermediate dollar calculations and final answer to the nearest whole dollar amount.) Depreciation deduction
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