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Problem 10-54 (LO 10-2, LO 10-3) (Static) Convers Corporation (calendar year-end) acquired the following assets during the current tax year: (ignore 179 expense and
Problem 10-54 (LO 10-2, LO 10-3) (Static) 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.) Asset Machinery Computer equipment Delivery truck* Furniture Total Date Placed in Service October 25 Original Basis $ 70,000 February 3 March 17 April 22 10,000 23,000 150,000 $ 253,000 *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 $300,000.
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