DLW Corporation acquired and placed in service the following assets during the year: Asset Date Acquired Cost

Question:

DLW 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 or bonus depreciation, answer the following questions:
a. What is DLW'syear 1 cost recovery for each asset?
b. What is DLW'syear 3 cost recovery for each asset if DLW sells all of these assets on 1/23 of year 3?
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...