47. DLW Corporation acquired and placed in service the following assets during the year: Asset Date Acquired
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47. DLW Corporation acquired and placed in service the following assets during the year:
Asset Date Acquired Cost Basis Computer equipment 2/17 $ 10,000 Furniture 5/12 17,000 Commercial building 11/1 270,000 Assuming DLW does not elect §179 expensing and elects not to use bonus depreciation, answer the following questions:
a. What is DLW’s year 1 cost recovery for each asset?
b. What is DLW’s year 3 cost recovery for each asset if DLW sells all of these assets on 1/23 of year 3?
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Related Book For
Taxation Of Individuals And Business Entities 2020
ISBN: 9781259969614
11th Edition
Authors: Brian Spilker, Benjamin Ayers, John Robinson, Edmund Outslay, Ronald Worsham, John Barrick, Connie Weaver
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