Question
Required information Skip to question [The following information applies to the questions displayed below.] At the beginning of the year, Anna began a calendar-year business
Required information
Skip to question
[The following information applies to the questions displayed below.]
At the beginning of the year, Anna began a calendar-year business and placed in service the following assets during the year:
Asset | Date Acquired | Cost Basis |
---|---|---|
Computers | 1/30 | $ 28,000 |
Office desks | 2/15 | $ 32,000 |
Machinery | 7/25 | $ 75,000 |
Office building | 8/13 | $ 400,000 |
Assuming Anna does not elect 179 expensing and elects not to use bonus depreciation, answer the following questions: (Use MACRS Table 1, Table 2, Table 3, Table 4 and Table 5.)
Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount.
b. What is Anna's year 2 cost recovery for each asset?
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