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b. What is the allowable depreciation on Evergreen's property in the current year if Evergreen does not elect out of bonus depreciation and elects out of $179 expense? Depreciation

b. What is the allowable depreciation on Evergreen's property in the current year if Evergreen does not elect out of bonus depreciation and elects out of $179 expense? Depreciation

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Required information. [The following information applies to the questions displayed below.] Evergreen Corporation (calendar year-end) acquired the following assets during the current year: (Use MACRS Table 1 and Table 2.) Date Placed in Original Basis Service October 25 Machinery $ 102,000 Computer equipment February 31 Used delivery truck August 17 Furniture: April 22 "The delivery truck is not a luxury automobile. Asset Depreciation 34,000 47,000 190,000 b. What is the allowable depreciation on Evergreen's property in the current year if Evergreen does not elect out of bonus depreciation and elects out of 5179 expense?
Transcribed Image Text:Required information. [The following information applies to the questions displayed below.] Evergreen Corporation (calendar year-end) acquired the following assets during the current year: (Use MACRS Table 1 and Table 2.) Date Placed in Original Basis Service October 25 Machinery $ 102,000 Computer equipment February 31 Used delivery truck August 17 Furniture: April 22 "The delivery truck is not a luxury automobile. Asset Depreciation 34,000 47,000 190,000 b. What is the allowable depreciation on Evergreen's property in the current year if Evergreen does not elect out of bonus depreciation and elects out of 5179 expense?
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Section 179 Deduction and Modified Accelerated Cost Recovery System (MACRS) Depreciation
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