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Required information [The following information applies to the questions displayed below] At the beginning of the current year, Poplock began a calendar-year dog boarding
Required information [The following information applies to the questions displayed below] At the beginning of the current year, Poplock began a calendar-year dog boarding business called Griff's Palace. Poplock bought and placed in service the following assets during the year: Asset Date Acquired Computer equipment 3/23 Dog-grooming furniture 5/12 Pickup truck 9/17 Commercial building 10/11 Land (one acre) 10/11 Cost Basis $9,200 11,200 10,000 312,000 122,000 Assuming Poplock does not elect 5179 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. Leave no answer blank. Enter zero if applicable. a. What is Poplock's year 1 depreciation deduction for each asset? Asset Computer equipment Dog-grooming furniture Pickup truck Commercial building Depreciation Deduction
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