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Wheeler LLC purchased two assets during the current year (a full 12-month tax year). On November 16 Wheeler placed in service computer equipment (five-year property)
Wheeler LLC purchased two assets during the current year (a full 12-month tax year). On November 16 Wheeler placed in service computer equipment (five-year property) with a basis of $22,500 and on April 20 placed in service furniture (seven-year property) with a basis of $15,500. Calculate the maximum depreciation expense (ignoring $179 and bonus depreciation). (Use MACRS Table 2.) (Round final answer to the nearest whole number.) Multiple Choice $2,463 $3,892 $5,750 O $6,378 O None of the choices are correct. Beth's business purchased only one asset during the current year (a full 12-month tax year). On December 1 Beth placed in service machinery (seven-year property) with a basis of $53,000. Calculate the maximum depreciation expense (ignoring $179 and bonus depreciation). (Use MACRS Table 2.) (Round final answer to the nearest whole number.) Multiple Choice O $1,892 $2,650 O O $7,573 O $10,600 None of the choices are correct
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