Question
Way Corporation disposed of the following tangible personal property assets in the current year. Assume that the delivery truck is not a luxury auto. Calculate
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Way Corporation disposed of the following tangible personal property assets in the current year. Assume that the delivery truck is not a luxury auto. Calculate Way Corporations 2018 depreciation deduction (ignore 179 expense and bonus depreciation for this problem).
| Asset | Date Acquired | Date Sold | Convention | Original Basis |
| Furniture (7-year) | 5/12/14 | 7/15/18 | HY | $ 55,000 |
| Machinery (7-year) | 3/23/15 | 3/15/18 | MQ | 72,000 |
| Delivery truck* (5-year) | 9/17/16 | 3/13/18 | HY | 20,000 |
| Machinery (7-year) | 10/11/17 | 8/11/18 | MQ | 270,000 |
| Computer (5-year) | 10/11/18 | 12/15/18 | HY | 80,000 |
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High Performance Cloud Auditing And Applications
Authors: Keesook J. Han, Baek-Young Choi, Sejun Song
1st Edition
1493944355, 978-1493944354
