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Way Corporation disposed of the following tangible personal property assets in the current year. Date Asset Furniture (7-year) Machinery (7-year) Delivery truck* (5-year) Machinery (7-year)
Way Corporation disposed of the following tangible personal property assets in the current year. Date Asset Furniture (7-year) Machinery (7-year) Delivery truck* (5-year) Machinery (7-year) Computer (5-year) Acquired 5/12/17 3/23/18 9/17/19 10/11/20 10/11/21 Date Sold 7/15/21 3/15/21 3/13/21 8/11/21 12/15/21 Convention HY MO HY MO HY Original Basis $ 55,000 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 2021 depreciation deduction (ignore $179 expense and bonus depreciation for this problem). (Use MACRS Table 1, Table 2, and Exhibit 10-6.) (Round your intermediate dollar calculations and final answer to the nearest whole dollar amount.) Depreciation deduction
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