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Required information Convers Corporation (calendar year-end) acquired the following assets during the current tax year: (ignore $179 expense and bonus depreciation for this problem):
Required information 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 Original Basis Service October 25 $ 82,000 February 3 March 17 April 22 "The delivery truck is not a luxury automobile. 22,000 35,000 162,000 $ 301,000 In addition to these assets, Convers installed new flooring (qualified improvement property) to its office building on May 12 at a cost of $420,000. a. What is the allowable MACRS depreciation on Convers's property in the current year assuming Convers does not elect $179 expense and elects out of bonus depreciation? (Round your intermediate calculations and final answer to the nearest whole dollar amount.) Answer is complete but not entirely correct. MACRS depreciation $ 53,009
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