Problem 10-54 (LO 10-2, LO 10-3) (Algo) Convers Corporation (calendar year-end) acquired the following assets during the current tax year: (ignore $179 expense and bonus depreciation for this problem): (Use MACRS Iable 1, Table 2 and Table 5.) "The delivery truck is not a luxury automobile. In addition to these assets, Convers installed qualified real property (MACRS, 15 year, 150\% DB) on May 12 at a cost of $760.000 Problem 10-54 Part a (Algo) a. What is the allowable MACRS depreciation on Convers's property in the current year assuming Convers does not elect $179 expense and elects out of bonus depreciation? Note: Round your intermediate calculations and final answer to the nearest whole dollar amount. Problem 10.54 (LO 10-2, LO 10-3) (Algo) Convers Corporation (calendar year-end) acquired the following assets during the current tax year: (ignore 5179 expense and bonus depreciation for this problem): (Use MACRS Table 1. Table 2 and Table 5.) "The delivery truck is not a luxury automobile. In addition to these assets, Convers installed qualified real property (MACRS, 15 year, 150\% DB) on May 12 at a cost of $760,000 Problem 10.54 Part b (Algo) What is the allowable MACRS depreciation on Convers's property in the current year assuming Convers does not elect out of bonus lepreciation (but does not take $179 expense)? Table 1 MACRS Half-Year Convention TABLE. 2a MACRS Mid-Quarter Convention: For property placed in senvice diring the first quarter \begin{tabular}{|c|c|c|} \hline \multicolumn{3}{|c|}{ Depreciation Rate for Recocry Period } \\ \hline & 5.Year & 7-Year \\ \hline Year 1 & 15.0014 & 10.71 . \\ \hline Year 2 & 34.00 & 25.51 \\ \hline Year 3 & 20.40 & 18.22 \\ \hline Year 4 & 12.24 & 13.02 \\ \hline Year 5 & 11.30 & 9.30 \\ \hline Year 6 & 7.06 & 8.85 \\ \hline Year 7 & & 3.86 \\ \hline Year 8 & & 5.53 \\ \hline \end{tabular} TABL.E 2d MACRS-Mlid Qearter Conventios: For propors placed in sernice during the fourth quarter 28 Humed