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?

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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Problem 10-53 (LO 10-2, LO 10-3) (Algo)
[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)
Asset
Machinery
Computer equipment
Date Placed in
Service
October 25
February 3
August 17.
Used delivery truck*
Furniture
April 22
Original
Basis
$ 114,000
43,000
56,000
205,000
The delivery truck is not a luxury automobile.
Note: Do not round intermediate calculations. Round your answers to the nearest whole dollar amount.
Problem 10-53 Part b (Algo)
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
Transcribed Image Text:! Required information Problem 10-53 (LO 10-2, LO 10-3) (Algo) [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) Asset Machinery Computer equipment Date Placed in Service October 25 February 3 August 17. Used delivery truck* Furniture April 22 Original Basis $ 114,000 43,000 56,000 205,000 The delivery truck is not a luxury automobile. Note: Do not round intermediate calculations. Round your answers to the nearest whole dollar amount. Problem 10-53 Part b (Algo) 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
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Section 179 Deduction and Modified Accelerated Cost Recovery System (MACRS) Depreciation
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