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Way Corporation disposed of the following tangible personal property assets in the current year Date Original Date Acquired Sold Convention Basis Asset 55, 000 Furniture
Way Corporation disposed of the following tangible personal property assets in the current year Date Original Date Acquired Sold Convention Basis Asset 55, 000 Furniture (7-year) 5/12/12 7/15/18 HY Machinery (7-year) 3/23/13 3/15/18 MO Delivery truck* (5-9/17/14 3/13/18 HY year) Machinery (7-year) 10/11/15 8/11/18 MQ Computer (5-year) 2/11/1812/15/18 HY 72,000 20,000 270,000 80,000 *Used 100 percent for business Assume that the delivery truck is not a luxury auto. Calculate Way Corporation's 2018 depreciation expense (Way has not used S179 expense and bonus depreciation in past years and elects not to do so this year as well). Way does not want to take the full cost in of assets acquired in 2018 as an expense. Be sure to show your work if you want any partial credit
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