DLW Corporation acquired and placed in service the following assets during the year: Asset Date Acquired Cost
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Question:
DLW Corporation acquired and placed in service the following assets during the year: |
Asset | Date Acquired | Cost Basis |
Computer equipment | 2/19 | $ 16,300 |
Furniture | 4/27 | 22,900 |
Commercial building | 10/2 | 319,000 |
Assuming DLW does not elect §179 expensing or bonus depreciation, answer the following questions: |
a. | What is DLW's year 1 cost recovery for each asset? (Round your answers to the nearest dollar amount.) |
b. | What is DLW's year 3 cost recovery for each asset if DLW sells all of these assets on 1/15 of year 3?(Round your answers to the nearest dollar amount.) |
Related Book For
Federal Taxation 2020 Comprehensive
ISBN: 9780135196274
33rd edition
Authors: Timothy J. Rupert, Kenneth E. Anderson, David S. Hulse
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