Assume that the delivery truck is not a luxury auto. Calculate Way Corporation's 2023 depreciation deduction (ignore §179 expense and bonus depreciation for this problem). (Use MACRS Table 1, Table 2, and Exhibit 10-6.) Note: Round your intermediate dollar calculations and final answer to the nearest whole dollar amount. Depreciation deduction. $ 64,554
Assume that the delivery truck is not a luxury auto. Calculate Way Corporation's 2023 depreciation deduction (ignore §179 expense and bonus depreciation for this problem). (Use MACRS Table 1, Table 2, and Exhibit 10-6.) Note: Round your intermediate dollar calculations and final answer to the nearest whole dollar amount. Depreciation deduction. $ 64,554
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Denger
Transcribed Image Text:Asset
Furniture (7-year)
Date
Acquired
5/12/19
Way Corporation disposed of the following tangible personal property assets in the current year.
Original
Basis
Date Sold
Convention
7/15/23
HY
$ 97,500
Machinery (7-year)
3/23/20
3/15/23
MQ
114,500
Delivery truck* (5-year)
9/17/21
3/13/23
HY
54,000
Machinery (7-year)
10/11/22
8/11/23
MQ
314,200
Computer (5-year)
10/11/23
12/15/23
HY
114,000
Used 100 percent for business.
Assume that the delivery truck is not a luxury auto. Calculate Way Corporation's 2023 depreciation deduction (ignore §179 expense
and bonus depreciation for this problem). (Use MACRS Table 1, Table 2, and Exhibit 10-6.)
Note: Round your intermediate dollar calculations and final answer to the nearest whole dollar amount.
Depreciation deduction
$
64,554
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