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The following information applies to the questions displayed below.] At the beginning of the year, Poplock began a calendar-year dog boarding business called Griff's Palace.
The following information applies to the questions displayed below.] At the beginning of the 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 Date Cost Basis Asset Acquired Computer equipment Dog-grooming furniture Pickup truck Commercial building Land (one acre) 3/23 $ 7,688 5/12 $ 9,608 9/17 $ 10,000 10/11 296,0ee 10/11 $ 106,900 Assuming Poplock does not elect $179 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.) (Round your 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? Depreciation Expense Asset Computer equipment Dog grooming furniture Pickup truck Commercial building Land Total b. What is Poplock's year 2 depreciation deduction for each asset? Depreciation Expense Asset Computer equipment Dog grooming furniture Pickup truck Commercial building Land Total
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