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Problem 8-33 (LO. 2) Debra acquired the following new assets during 2020: Date Asset Cost April 11 Furniture $40,000 Trucks July 28 November 3 40,000

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Problem 8-33 (LO. 2) Debra acquired the following new assets during 2020: Date Asset Cost April 11 Furniture $40,000 Trucks July 28 November 3 40,000 70,000 Computers Debra does not elect immediate expensing under 179. She does not claim any available additional first-year depreciation. If required, round your answers to the nearest dollar. Click here to access the depreciation tables to use for this problem. a. What MACRS convention applies to the assets? b. What class of property is each asset for MACRS? Furniture: Trucks Computers: c. The cost recovery deductions for the current year is: Furniture: Trucks Computers

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