Orange Corporation acquired new office furniture on August 15, 2019, for $130,000. Orange does not elect immediate

Question:

Orange Corporation acquired new office furniture on August 15, 2019, for $130,000. Orange does not elect immediate expensing under § 179. Orange claims any available additional first-year depreciation.

a. Determine Orange’s cost recovery for 2019.

b. How would your answer change if Orange decided to use $52,000 of bonus depreciation and use normal MACRS on the balance of the acquisition cost?

Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...

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