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! Required information [The following information applies to the questions displayed below.] Burbank Corporation (calendar year-end) acquired the following property this year: (Use MACRS Table
! Required information [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.) Placed in Service November 12 June 6 Asset Used copier New computer equipment Furniture New delivery truck Luxury auto Total July 15 Basis $ 7,800 14,000 32,000 19,000 70,000 $ 142,800 October 28 January 31 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.) b. Assuming Burbank would like to maximize its cost recovery deductions by claiming bonus and $179 expense, which assets should Burbank immediately expense? (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.) Maximum cost recovery deduction
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