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Required information Problem 10-69 (LO 10-2, LO 10-3) [The following information applies to the questions displayed below.) Burbank Corporation (calendar-year-end) acquired the following property this
Required information Problem 10-69 (LO 10-2, LO 10-3) [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.) (Round your answer to the nearest whole dollar amount.) Asset Used copier New computer equipment Furniture New delivery truck Luxury auto Total Placed in Service November 12 June 6 July 15 October 28 January 31 Basis $ 10,800 17,000 35,000 22,000 73,000 $ 157,800 Burbank acquired the copier in a tax-deferred transaction when the shareholder contributed the copier to the business in exchange for stock. Problem 10-69 Part c. What is Burbank's maximum cost recovery deduction this year assuming it elects $179 expense and claims bonus depreciation? Maximum cost recovery deduction Required information Problem 10-69 (LO 10-2, LO 10-3) [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.) (Round your answer to the nearest whole dollar amount.) Asset Used copier New computer equipment Furniture New delivery truck Luxury auto Total Placed in Service November 12 June 6 July 15 October 28 January 31 Basis $ 10,800 17,000 35,000 22,000 73,000 $ 157,800 Burbank acquired the copier in a tax-deferred transaction when the shareholder contributed the copier to the business in exchange for stock. Problem 10-69 Part c. What is Burbank's maximum cost recovery deduction this year assuming it elects $179 expense and claims bonus depreciation? Maximum cost recovery deduction
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