At the beginning of the year, Anna began a calendar-year business and placed in year: Date Acquired 1/30 2/15 7/25 8/13 Asset Cost Basis $ 64,000 $ 68,000 $ 111,000 $ 448,000 Computers Office desks Machinery Office building Assuming Anna does not elect §179 expensing and elects not to use bonus depr questions: (Use MACRS Table 1, Table 2, Table 3, Table 4 and Table 5.) (Do not ro your final answers to the nearest whole dollar amount.) at is Anna's year 2 cost recovery for each asset?
At the beginning of the year, Anna began a calendar-year business and placed in year: Date Acquired 1/30 2/15 7/25 8/13 Asset Cost Basis $ 64,000 $ 68,000 $ 111,000 $ 448,000 Computers Office desks Machinery Office building Assuming Anna does not elect §179 expensing and elects not to use bonus depr questions: (Use MACRS Table 1, Table 2, Table 3, Table 4 and Table 5.) (Do not ro your final answers to the nearest whole dollar amount.) at is Anna's year 2 cost recovery for each asset?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
100%
![At the beginning of the year, Anna began a calendar-year business and placed in service the following assets during the
year:
Asset
Date Acquired
Cost Basis
$ 64,000
$ 68,000
$ 111,000
$ 448,000
1/30
Computers
Office desks
2/15
7/25
Machinery
Office building
8/13
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.) (Do not round intermediate calculations. Round
your final answers to the nearest whole dollar amount.)
b. What is Anna's year 2 cost recovery for each asset?
Year 2
Asset
Cost Recovery
Computers
$
20,480
Office desks
16,653
Machinery
$
27,184
Office building
Total
75,786
%24](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F7c90e654-ccda-43a1-acc1-728dd6160a3d%2F3add5a00-f2b0-4fa5-b332-ccbd953aede3%2Ft6t8w7c_processed.png&w=3840&q=75)
Transcribed Image Text:At the beginning of the year, Anna began a calendar-year business and placed in service the following assets during the
year:
Asset
Date Acquired
Cost Basis
$ 64,000
$ 68,000
$ 111,000
$ 448,000
1/30
Computers
Office desks
2/15
7/25
Machinery
Office building
8/13
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.) (Do not round intermediate calculations. Round
your final answers to the nearest whole dollar amount.)
b. What is Anna's year 2 cost recovery for each asset?
Year 2
Asset
Cost Recovery
Computers
$
20,480
Office desks
16,653
Machinery
$
27,184
Office building
Total
75,786
%24
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