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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 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 2024 depreciation deduction (ignore 179 expense and bonus depreciation for this problem).
Asset
Date acquired
Date sold
Convention
Original
Basis
Furniture (7 year)
5/12/20
7/15/24
HY
$55,000
Machinery (7 year)
3/23/21
3/15/24
MQ
$72,000
Delivery truck*(5 year)
9/17/22
3/13/24
HY
$20,000
Machinery (7 year)
10/11/23
8/11/24
MQ
$270,000
Computer (5 year)
10/11/24
12/15/24
HY
$80,000

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