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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
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 $720,000. roblem 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 depreciation (but does not take 179 xpense)? ote: Round your intermediate calculations to the nearest whole dollar amount
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