Return to quiero 20 Part Required information {The following information applies to the questions displayed below.) Burbank Corporation calendar year-end) acquired the following property this year (Use MACRS Tables, fable 2 and Exa 10:10) 2 Placed in Asset Service November Used copler 12 $ 7,000 New computer 18, equipment Furniture July 15 12.000 New delivery truck October 28 19,000 Luxury auto January 31 70.000 Total $142, 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.) o. Assuming no bonus of 179 expense, what is Burbank's maximum cost recovery deduction for this year Table 1 MACRS Half Year Convention Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Depreciation Rate for Recovery Period 3-Year 5-Year 7-Year 10-Year 15-Year 20 Year 33.33% 20.00% 14.29% 10.00% 5.00% 3.750% 44.45 32.00 24.49 18.00 9.50 17.219 14.81 19.20 17.49 14.40 8.55 6.677 7.41 11.52 12.49 11.52 7.70 6.177 11.52 8.93 9.22 6.93 5.713 5.76 8.92 7.37 6.23 5.285 8.93 6.55 5.90 4.888 4.46 6.55 5.90 4.522 6.56 5.91 4.462 6.55 5.90 4.461 Year 11 3.28 5.91 4.462 Year 12 5.90 4.461 Year 13 5.91 4.462 Year 14 5.90 4.461 Year 15 5.91 4.462 Year 16 2.95 4.461 4.462 Year 17 4.461 Year 18 4.462 Year 19 TABLE 2a MACRS Mid-Quarter Convention: For property placed in service during the first quarter Depreciation Rate for Recovery Period 5-Year 7-Year Year 1 35.00% 25.00% Year 2 26.00 21.43 Year 3 15.60 15.31 Year 4 11.01 10.93 Year 5 11.01 8.75 Year 6 1.38 8.74 Year 7 8.75 Year 8 1.09 TABLE 26 MACRS Mid-Quarter Convention: For property placed in service during the second quarter Depreciation Rate for Recovery Period 5 Year 7-Year Year 1 25.00% 17.85% Year 2 30.00 23.47 Year 3 18.00 16.76 Year 4 11.37 11.97 Year 5 11.37 8.87 Year 6 4.26 8.87 Year 7 8.87 Year 8 3.34 TABLE 26 MACRS Mid-Quarter Convention: For property placed in service during the third quarter Depreciation Rate for Recovery Period 5 Year 7-Year Year 1 15.00% 10.71% Year 2 34.00 25.51 TABLE 2 MACRS Mid Quarter Convention: For property placed in service during the third quarter Depreciation Rate for Recovery Period 5-Year 7-Year Year 1 15.00% 10.71% Year 2 34.00 25.51 Year 3 20.40 18.22 Year 4 12.24 13.02 Year 5 11.30 9.30 Year 6 7.06 8.85 Year 7 8.86 Year 8 5.53 TABLE 20 MACRS-Mid Quarter Convention: For property placed in service during the fourth quarter Depreciation Rate for Recovery Period 5-Year 7-Year Year 1 5.00% 3.57% Year 2 38.00 27.55 Year 3 22.80 19.68 Year 4 13.68 14.06 Year 5 10.94 10.04 Year 6 9.58 8.73 Year 7 8.73 Year 8 7.64 EXHIBIT 10-10 Automobile Depreciation Limits Recovery Year 1 2 3 4 and after 2020- 10.100 16.100 9,700 5,760 Year Placed in Service 2019 2018 10.100 10.000 16.100 16.000 9.700 9.600 5,760 51760 2017 3,160 3.100 3.050 1.875 4 of press date the IRS had not released the 2020imitations for automobiles, so throughout the chapter were the same limitations at 2019 for 2020. **88.000 additional depreciation is allowed when bonus deprecianon as claimed ($168/80)(23(FO)
