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Required information [The following information applies to the questions displayed below.) DLW Corporation acquired and placed in service the following assets during the year:
Required information [The following information applies to the questions displayed below.) DLW Corporation acquired and placed in service the following assets during the year: Asset Computer equipment Date Acquired 3/7 Coat Basis $ 15,900 Furniture Commercial building 3/3 11/27 $ 25,100 $ 325,000 Assuming DLW 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. a. What is DLW's year 1 cost recovery for each asset? Asset Year 1 Cost Recovery Computer equipment Furniture $ 3,180 $ 3,587 Commercial building Total $ 182,267 b. What is DLW's year 3 cost recovery for each asset if DLW sells these assets on 4/25 of year 3? Asset Year 3 Cost Recovery Computer equipment Furniture Commercial building Total
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