Question: Required information Problem 10-54 (LO 10-2, LO 10-3) (Algo) Convers Corporation (calendar year-end) acquired the following assets during the current tax year: (ignore $179 expense
Required information Problem 10-54 (LO 10-2, LO 10-3) (Algo) Convers Corporation (calendar year-end) acquired the following assets during the current tax year: (ignore $179 expense and bonus depreciation for this problem): (Use MACRS Table 1. Table 2 and Table 5.) Date Placed in Original oset Service Basis Machinery October 25 $ 74,000 Computer equipment February 3 14.000 Delivery truck March 17 27,000 Furniture April 22 154,000 Total $ 269,000 *The delivery truck is not a luxury automobile In addition to these assets, Convers installed new flooring (qualified improvement property) to its office building on May 12 at a cost of $340,000 Problem 10-54 Part a (Algo) a. What is the allowable MACRS depreciation on Convers's property in the current year assuming Convers does not elect 5179 expense and elects out of bonus depreciation? (Round your intermediate calculations and final answer to the nearest whole dollar amount.) MACRS depreciation
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