At the beginning of the year, Anna began a calendar-year business and placed in service the following assets during the year Computers Office desks Machinery office building Asset a. What is Anna's year 1 cost recovery for each asset? Asset Assuming Anna does not elect $179 expensing and elects not to use bonus depreciation, answer the following questions: (Use MACRS Table 1. Table 2. Table 3. Table 4 and Table 5.) Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount. Answer is complete but not entirely correct. Year 1 Cost Recovery Computers Office desks Date Acquired 1/30 2/15 7/25 8/13 Machinery Office building $ $ $ Cost Basis $ 40,000 8,000 6,288 12,432 4.002 $ 44,000 $ 87,000 $ 416,000

At the beginning of the year, Anna began a calendar-year business and placed in service the following assets during the year Computers Office desks Machinery office building Asset a. What is Anna's year 1 cost recovery for each asset? Asset Assuming Anna does not elect $179 expensing and elects not to use bonus depreciation, answer the following questions: (Use MACRS Table 1. Table 2. Table 3. Table 4 and Table 5.) Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount. Answer is complete but not entirely correct. Year 1 Cost Recovery Computers Office desks Date Acquired 1/30 2/15 7/25 8/13 Machinery Office building $ $ $ Cost Basis $ 40,000 8,000 6,288 12,432 4.002 $ 44,000 $ 87,000 $ 416,000

SWFT Comprehensive Vol 2020

43rd Edition

ISBN:9780357391723

Author:Maloney

Publisher:Maloney

Chapter8: Depreciation, Cost Recovery, Amortization, And Depletion

Section: Chapter Questions

Problem 47P

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