Problem $8-14$

Modified Accelerated Cost Recovery System $($MACRS$)$ and Bonus Depreciation, Listed Property, Limitation on Depreciation of Luxury Automobiles $($LO $8\mathrm{.}2,8\mathrm{.}4,8\mathrm{.}5)$

During $2023,$ Pepe Guardio purchases the following property for use in his calendar year$-$end manufacturing business:

$\backslash$table$[[$Item$,$Date Acquired,Cost$],[$Manufacturing equipment $(7$ year$),$June $2,$$$60,000$