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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 1, 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.) 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 7,800 14, eee 32,000 19,80 79,000 $ 142,880 Burbank acquired the copler 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.) a. Assuming no bonus or $179 expense, what is Burbank's maximum cost recovery deduction for this year? Answer is complete but not entirely correct. Maximum cost recovery deduction $ 72,800 X
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