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 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 $320,000. 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 5179 expense and elects out of bonus depreciation? Note: Round your intermediate calculations and final answer to the nearest whole dollar amount. Exhibit 10-4 Recovery Period for Most Common Business Assets EXHIBIT 10-7 Recovery Period for Real Property TABLE 1 MACRS HotfYear Convention FXHIBIT 10-10 Automobile Depreciation Limits $8,000 additional depreciation is allowed when bonus is claimed