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Way Corporation disposed of the following tangible personal property assets in the current year. Asset Furniture (7-year) Machinery (7-year) Delivery truck* (5-year) Machinery (7-year) Computer
Way Corporation disposed of the following tangible personal property assets in the current year. Asset Furniture (7-year) Machinery (7-year) Delivery truck* (5-year) Machinery (7-year) Computer (5-year) Date Acquired 5/12/16 3/23/17 9/17/18 10/11/19 10/11/20 Date Sold 7/15/20 3/15/20 3/13/20 8/11/20 12/15/20 Convention HY MQ HY MQ Original Basis $ 90,000 107,000 48,000 306,400 108,000 HY *Used 100 percent for business. Assume that the delivery truck is not a luxury auto. Calculate Way Corporation's 2020 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.)
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