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Required information Problem 10-69 (LO 10-2, LO 10-3) (Algo) Skip to question [The following information applies to the questions displayed below.] Burbank Corporation (calendar-year-end) acquired

Required information

Problem 10-69 (LO 10-2, LO 10-3) (Algo)

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[The following information applies to the questions displayed below.]

Burbank Corporation (calendar-year-end) acquired the following property this year: (Use MACRS Table 1, Table 2 and Exhibit 10-10.)

Asset Placed in Service Basis
Used copier November 12 $ 12,800
New computer equipment June 6 19,000
Furniture July 15 37,000
New delivery truck October 28 24,000
Luxury auto January 31 75,000
Total $ 167,800

Burbank acquired the copier in a tax-deferred transaction when the shareholder contributed the copier to the business in exchange for stock. (Round your answer to the nearest whole dollar amount.)

Problem 10-69 Part a (Algo)

a. Assuming no bonus or 179 expense, what is Burbanks maximum cost recovery deduction for this year?

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