50. Way Corporation disposed of the following tangible personal property assets in the current year. Assume that the delivery truck is not a luxury auto. Calculate Way Corporation’s 2019 depreciation deduction (ignore §179 expense and bonus depreciation for this problem).
Asset Date Acquired Date Sold Convention Original Basis Furniture (7-year) 5/12/15 7/15/19 HY $ 55,000 Machinery (7-year) 3/23/16 3/15/19 MQ 72,000 Delivery truck* (5-
year)
9/17/17 3/13/19 HY 20,000 Machinery (7-year) 10/11/18 8/11/19 MQ 270,000 Computer (5-year) 10/11/19 12/15/19 HY 80,000 *Used 100 percent for business.