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Problem 8-33 (LO. 2) Debra acquired the following new assets during 2021: Date Asset Cost Furniture $40,000 April 11 July 28 November 3 Trucks 40,000
Problem 8-33 (LO. 2) Debra acquired the following new assets during 2021: Date Asset Cost Furniture $40,000 April 11 July 28 November 3 Trucks 40,000 Computers 70,000 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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