Evergreen Corporation (calendar year end) acquired the following assets during the current year (ignore 179 expense and

Question:

Evergreen (calendar year end) acquired the following assets during the current year (ignore §179 expense and bonus depreciation for this problem):
Asset Placed in Service Date Original Basis
Machinery ................. October 25 .......... $70,000
Computer Equipment ....... February 3 .......... $10,000
Used Delivery Truck* ........ August 17 .......... $23,000
Furniture .................. April 22 ............ $150,000
*The delivery truck is not a luxury automobile.
a. What is the allowable MACRS depreciation on Evergreen's property in the current year?
b. What is the allowable MACRS depreciation on Evergreen's property in the current year if the machinery had a basis of $170,000 rather than $70,000?
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...