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TEMMISURHIVERN (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
TEMMISURHIVERN (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 $ 7,820 14, cee 32,000 19,000 79,000 $ 142,880 Burbank acquired the copler in a tax-deferred transaction when the shareholder contributed the copler to the business in exchange for stock. (Round your answer to the nearest whole dollar amount.) c. What is Burbank's maximum cost recovery deduction this year assuming it elects 3179 expense and claims bonus depreciation? Answer is complete but not entirely correct. Maximum cost recovery deduction S 142.000
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