While completing undergraduate school work in information systems, Dallin Bourne and Michael Banks decided to start a business called Tech Trouble, which was a technology support company. During year 1 (2018 or after), they bought the following assets and incurred the following fees at start-up: sw Year 1 Assets Computer (5 year) Office Equipment (7 year) Furniture (7 year) Start-up costs Purchase Date October 30, Y1 October 30, Y1 October 30, Y1 October 30, Y1 Basis $15,000 10,000 3,000 17,000 In April of year 2, they decided to purchase a customer list from a company started by fellow information systems students preparing to graduate who provided virtually the same services. The customer list cost $10,000 and the sale was completed on April 30. During their summer break, Dallin and Michael passed on internship opportunities in an attempt to really grow their business into something they could do full-time upon graduation. In the summer, they purchased a Tesla Model 3 to use when traveling to and from customer locations. They also used it to take a trip to Florida and visit their parents a few times. They kept a mileage log and determined that the car was used 70% for business during year 2. They bought a pinball machine to help attract new employees. In addition, Dallin contributed another computer to the business. The original cost of the computer was $8,000 and it was valued at $5,000 when he placed it in service on September 15. Year 2 Assets Customer list Automobile (5 year) Pinball machine (7 year) Computer (5 year) Purchase Date April 30, Y2 June 15, Y2 July 1, Y2 September 15, Y2 Basisarmsal $10,000 51,000 4,000 Assume that Tech Trouble does not claim any $179 expense or bonus depreciation during Y1 or Y2. What are the maximum cost recovery deductions for Tech Trouble for Y1 and Y2? While completing undergraduate school work in information systems, Dallin Bourne and Michael Banks decided to start a business called Tech Trouble, which was a technology support company. During year 1 (2018 or after), they bought the following assets and incurred the following fees at start-up: sw Year 1 Assets Computer (5 year) Office Equipment (7 year) Furniture (7 year) Start-up costs Purchase Date October 30, Y1 October 30, Y1 October 30, Y1 October 30, Y1 Basis $15,000 10,000 3,000 17,000 In April of year 2, they decided to purchase a customer list from a company started by fellow information systems students preparing to graduate who provided virtually the same services. The customer list cost $10,000 and the sale was completed on April 30. During their summer break, Dallin and Michael passed on internship opportunities in an attempt to really grow their business into something they could do full-time upon graduation. In the summer, they purchased a Tesla Model 3 to use when traveling to and from customer locations. They also used it to take a trip to Florida and visit their parents a few times. They kept a mileage log and determined that the car was used 70% for business during year 2. They bought a pinball machine to help attract new employees. In addition, Dallin contributed another computer to the business. The original cost of the computer was $8,000 and it was valued at $5,000 when he placed it in service on September 15. Year 2 Assets Customer list Automobile (5 year) Pinball machine (7 year) Computer (5 year) Purchase Date April 30, Y2 June 15, Y2 July 1, Y2 September 15, Y2 Basisarmsal $10,000 51,000 4,000 Assume that Tech Trouble does not claim any $179 expense or bonus depreciation during Y1 or Y2. What are the maximum cost recovery deductions for Tech Trouble for Y1 and Y2