TABLE 2c MACRS Mid-Quarter Convention: For property placed in service during the third quarter \begin{tabular}{|c|c|c|} \hline \multicolumn{3}{|c|}{ Depreciation Rate for Recovery Period } \\ \hline & 5-Year & 7-Year \\ \hline Year 1 & 15.00% & 10.71% \\ \hline Year 2 & 34.00 & 25.51 \\ \hline Year 3 & 20.40 & 18.22 \\ \hline Year 4 & 12.24 & 13.02 \\ \hline Year 5 & 11.30 & 9.30 \\ \hline Year 6 & 7.06 & 8.85 \\ \hline Year 7 & & 8.86 \\ \hline Year 8 & & 5.53 \\ \hline \end{tabular} TABLE 2d MACRS-Mid Quarter Convention: For property placed in service during the fourth quarter \begin{tabular}{|c|c|c|} \hline \multicolumn{3}{|c|}{ Depreciation Rate for Recovery Period } \\ \hline & 5-Year & 7-Year \\ \hline Year 1 & 5.00% & 3.57% \\ \hline Year 2 & 38.00 & 27.55 \\ \hline Year 3 & 22.80 & 19.68 \\ \hline Year 4 & 13.68 & 14.06 \\ \hline Year 5 & 10.94 & 10.04 \\ \hline Year 6 & 9.58 & 8.73 \\ \hline Year 7 & & 8.73 \\ \hline Year 8 & & 7.64 \\ \hline \end{tabular} TABLE 5 Nonresidential Real Property Mid-Month Convention Straight Line-39 Years (for assets placed in service on or after May 13, 1993) \begin{tabular}{|c|c|c|c|c|c|c|c|c|c|c|c|c|} \hline \multicolumn{13}{|c|}{ Month Property Placed in Service } \\ \hline & Month 1 & Month 2 & Month 3 & Month 4 & Month 5 & Month 6 & Month 7 & Month 8 & Month 9 & Month 10 & Month 11 & Month 12 \\ \hline Year 1 & 2.461% & 2.247% & 2.033% & 1.819% & 1.605% & 1.391% & 1.177% & 0.963% & 0.749% & 0.535% & 0.321% & 0.107% \\ \hline Year 2-39 & 2.564 & 2.564 & 2.564 & 2.564 & 2.564 & 2.564 & 2.564 & 2.564 & 2.564 & 2.564 & 2.564 & 2.564 \\ \hline Year 40 & 0.107 & 0.321 & 0.535 & 0.749 & 0.963 & 1.177 & 1.391 & 1.605 & 1.819 & 2.033 & 2.247 & 2.461 \\ \hline \end{tabular} TABLE 3 Residential Rental Property Mid-Month Convention Straight Line-27.5 Years Table 1 MACRS Half-Year Convention \begin{tabular}{|c|c|c|c|c|c|c|} \hline \multicolumn{7}{|c|}{ Depreciation Rate for Recovery Period } \\ \hline & 3-Year & 5-Year & 7-Year & 10-Year & 15-Year & 20-Year \\ \hline Year 1 & 33.33% & 20.00% & 14.29% & 10.00% & 5.00% & 3.750% \\ \hline Year 2 & 44.45 & 32.00 & 24.49 & 18.00 & 9.50 & 7.219 \\ \hline Year 3 & 14.81 & 19.20 & 17.49 & 14.40 & 8.55 & 6.677 \\ \hline Year 4 & 7.41 & 11.52 & 12.49 & 11.52 & 7.70 & 6.177 \\ \hline Year 5 & & 11.52 & 8.93 & 9.22 & 6.93 & 5.713 \\ \hline Year 6 & & 5.76 & 8.92 & 7.37 & 6.23 & 5.285 \\ \hline Year 7 & & & 8.93 & 6.55 & 5.90 & 4.888 \\ \hline Year 8 & & & 4.46 & 6.55 & 5.90 & 4.522 \\ \hline Year 9 & & & & 6.56 & 5.91 & 4.462 \\ \hline Year 10 & & & & 6.55 & 5.90 & 4.461 \\ \hline Year 11 & & & & 3.28 & 5.91 & 4.462 \\ \hline Year 12 & & & & & 5.90 & 4.461 \\ \hline Year 13 & & & & & 5.91 & 4.462 \\ \hline Year 14 & & & & & 5.90 & 4.461 \\ \hline Year 15 & & & & & 5.91 & 4.462 \\ \hline Year 16 & & & & & 2.95 & 4.461 \\ \hline Year 17 & & & & & & 4.462 \\ \hline Year 18 & & & & & & 4.461 \\ \hline Year 19 & & & & & & 4.462 \\ \hline Year 20 & & & & & & 4.461 \\ \hline Year 21 & & & & & & 2.231 \\ \hline \end{tabular} TABLE 2a MACRS Mid-Quarter Convention: For property placed in service during the first quarter \begin{tabular}{|c|c|c|} \hline \multicolumn{3}{|c|}{ Depreciation Rate for Recovery Period } \\ \hline & 5-Year & 7-Year \\ \hline Year 1 & 35.00% & 25.00% \\ \hline Year 2 & 26.00 & 21.43 \\ \hline Year 3 & 15.60 & 15.31 \\ \hline Year 4 & 11.01 & 10.93 \\ \hline Year 5 & 11.01 & 8.75 \\ \hline Year 6 & 1.38 & 8.74 \\ \hline Year 7 & & 8.75 \\ \hline Year 8 & & 1.09 \\ \hline \end{tabular} TABLE 2b MACRS Mid-Quarter Convention: For property placed in service during the second quarter \begin{tabular}{|c|c|c|} \hline \multicolumn{3}{|c|}{ Depreciation Rate for Recovery Period } \\ \hline & 5-Year & 7-Year \\ \hline Year 1 & 25.00% & 17.85% \\ \hline Year 2 & 30.00 & 23.47 \\ \hline Year 3 & 18.00 & 16.76 \\ \hline Year 4 & 11.37 & 11.97 \\ \hline Year 5 & 11.37 & 8.87 \\ \hline Year 6 & 4.26 & 8.87 \\ \hline Year 7 & & 8.87 \\ \hline Year 8 & & 3.34 \\ \hline \end{tabular} Required information Problem 10-63 (LO 10-2, LO 10-3) (Static) [The following information applies to the questions displayed below.] Assume that Sivart Corporation has 2023 taxable income of $1,750,000 for purposes of computing the $179 expense and acquired several assets during the year. Assume the delivery truck does not qualify for bonus depreciation. (Use MACRS Table 1, Table 2, Table 3, Table 4, and Table 5.) Problem 10-63 Part a (Static) a. What is the maximum amount of $179 expense Sivart may deduct for 2023? Required information Problem 10-63 (LO 10-2, LO 10-3) (Static) [The following information applies to the questions displayed below.] Assume that Sivart Corporation has 2023 taxable income of $1,750,000 for purposes of computing the $179 expense and acquired several assets during the year. Assume the delivery truck does not qualify for bonus depreciation. (Use MACRS Table 1, Table 2, Table 3, Table 4, and Table 5.) Problem 10-63 Part b (Static) b. What is the maximum total depreciation ( $179, bonus, MACRS) that Sivart may deduct in 2023 on the assets it placed in service in 2023? TABLE 4 Nonresidential Real Property Mid-Month Convention Straight Line-31.5 Years (for assets placed in service before May 13, 1993) \begin{tabular}{|c|c|c|c|c|c|c|c|c|c|c|c|c|} \hline \multicolumn{13}{|c|}{ Month Property Placed in Service } \\ \hline & Month 1 & Month 2 & Month 3 & Month 4 & Month 5 & Month 6 & Month 7 & Month 8 & Month 9 & Month 10 & Month 11 & Month 12 \\ \hline Year 1 & 3.042% & 2.778% & 2.513% & 2.249% & 1.984% & 1.720% & 1.455% & 1.190% & 0.926% & 0.661% & 0.397% & 0.132% \\ \hline Year 2-7 & 3.175 & 3.175 & 3.175 & 3.175 & 3.175 & 3.175 & 3.175 & 3.175 & 3.175 & 3.175 & 3.175 & 3.175 \\ \hline Year 8 & 3.175 & 3.174 & 3.175 & 3.174 & 3.175 & 3.174 & 3.175 & 3.175 & 3.175 & 3.175 & 3.175 & 3.175 \\ \hline Year 9 & 3.174 & 3.175 & 3.174 & 3.175 & 3.174 & 3.175 & 3.174 & 3.175 & 3.174 & 3.175 & 3.174 & 3.175 \\ \hline Year 10 & 3.175 & 3.174 & 3.175 & 3.174 & 3.175 & 3.174 & 3.175 & 3.174 & 3.175 & 3.174 & 3.175 & 3.174 \\ \hline Year 11 & 3.174 & 3.175 & 3.174 & 3.175 & 3.174 & 3.175 & 3.174 & 3.175 & 3.174 & 3.175 & 3.174 & 3.175 \\ \hline Year 12 & 3.175 & 3.174 & 3.175 & 3.174 & 3.175 & 3.174 & 3.175 & 3.174 & 3.175 & 3.174 & 3.175 & 3.174 \\ \hline Year 13 & 3.174 & 3.175 & 3.174 & 3.175 & 3.174 & 3.175 & 3.174 & 3.175 & 3.174 & 3.175 & 3.174 & 3.175 \\ \hline Year 14 & 3.175 & 3.174 & 3.175 & 3.174 & 3.175 & 3.174 & 3.175 & 3.174 & 3.175 & 3.174 & 3.175 & 3.174 \\ \hline Year 15 & 3.174 & 3.175 & 3.174 & 3.175 & 3.174 & 3.175 & 3.174 & 3.175 & 3.174 & 3.175 & 3.174 & 3.175 \\ \hline Year 16 & 3.175 & 3.174 & 3.175 & 3.174 & 3.175 & 3.174 & 3.175 & 3.174 & 3.175 & 3.174 & 3.175 & 3.174 \\ \hline Year 17 & 3.174 & 3.175 & 3.174 & 3.175 & 3.174 & 3.175 & 3.174 & 3.175 & 3.174 & 3.175 & 3.174 & 3.175 \\ \hline Year 18 & 3.175 & 3.174 & 3.175 & 3.174 & 3.175 & 3.174 & 3.175 & 3.174 & 3.175 & 3.174 & 3.175 & 3.174 \\ \hline Year 19 & 3.174 & 3.175 & 3.174 & 3.175 & 3.174 & 3.175 & 3.174 & 3.175 & 3.174 & 3.175 & 3.174 & 3.175 \\ \hline Year 20 & 3.175 & 3.174 & 3.175 & 3.174 & 3.175 & 3.174 & 3.175 & 3.174 & 3.175 & 3.174 & 3.175 & 3.174 \\ \hline Year 21 & 3.174 & 3.175 & 3.174 & 3.175 & 3.174 & 3.175 & 3.174 & 3.175 & 3.174 & 3.175 & 3.174 & 3.175 \\ \hline Year 22 & 3.175 & 3.174 & 3.175 & 3.174 & 3.175 & 3.174 & 3.175 & 3.174 & 3.175 & 3.174 & 3.175 & 3.174 \\ \hline Year 23 & 3.174 & 3.175 & 3.174 & 3.175 & 3.174 & 3.175 & 3.174 & 3.115 & 3.174 & 3.175 & 3.174 & 3.175 \\ \hline Year 24 & 3.175 & 3.174 & 3.175 & 3.174 & 3.175 & 3.174 & 3.175 & 3.174 & 3.175 & 3.174 & 3.175 & 3.174 \\ \hline Year 25 & 3.174 & 3.175 & 3.174 & 3.175 & 3.174 & 3.175 & 3.174 & 3.175 & 3.174 & 3.175 & 3.174 & 3.175 \\ \hline Year 26 & 3.175 & 3.174 & 3.175 & 3.174 & 3.175 & 3.174 & 3.175 & 3.174 & 3.175 & 3.174 & 3.175 & 3.174 \\ \hline Year 27 & 3.174 & 3.175 & 3.174 & 3.175 & 3.174 & 3.175 & 3.174 & 3.175 & 3.174 & 3.175 & 3.174 & 3.175 \\ \hline Year 28 & 3.175 & 3.174 & 3.175 & 3.174 & 3.175 & 3.174 & 3.175 & 3.174 & 3.175 & 3.174 & 3.175 & 3.174 \\ \hline Year 29 & 3.174 & 3.175 & 3.174 & 3.175 & 3.174 & 3.175 & 3.174 & 3.175 & 3.174 & 3.175 & 3.174 & 3.175 \\ \hline Year 30 & 3.175 & 3.174 & 3.175 & 3.174 & 3.175 & 3.174 & 3.175 & 3.174 & 3.175 & 3.174 & 3.175 & 3.174 \\ \hline Year 31 & 3.174 & 3.175 & 3.174 & 3.175 & 3.174 & 3.175 & 3.174 & 3.175 & 3.174 & 3.175 & 3.174 & 3.175 \\ \hline Year 32 & 1.720 & 1.984 & 2.249 & 2.513 & 2.778 & 3.042 & 3.175 & 3.174 & 3.175 & 3.174 & 3.175 & 3.174 \\ \hline Year 33 & & & & & & & 0.132 & 0.397 & 0.661 & 0.926 & 1.190 & 1.455 \\ \hline \end{tabular}