Evergreen Corporation (calendar year-end) acquired the following assets during the current year: (Use MACRS Table 1 and Table 2.) Machinery Asset Computer equipment Used delivery truck" Furniture Date Placed in Service October 25 February 3 August 17 April 22 "The delivery truck is not a luxury automobile. Original Basis $ 116,000 44,500 57,500 207,500 Note: Do not round intermediate calculations. Round your answers to the nearest whole dollar amount. 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
Evergreen Corporation (calendar year-end) acquired the following assets during the current year: (Use MACRS Table 1 and Table 2.) Machinery Asset Computer equipment Used delivery truck" Furniture Date Placed in Service October 25 February 3 August 17 April 22 "The delivery truck is not a luxury automobile. Original Basis $ 116,000 44,500 57,500 207,500 Note: Do not round intermediate calculations. Round your answers to the nearest whole dollar amount. 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
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.)
Machinery
Asset
Computer equipment
Used delivery truck*
Furniture
Date Placed in
Service
October 25
February 3
August 17
April 22
Original
Basis
$ 116,000
44,500
57,500
207,500
The delivery truck is not a luxury automobile.
Note: Do not round intermediate calculations. Round your answers to the nearest whole dollar amount.
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](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F4e45c618-be3e-4b53-8945-b036612548c9%2F1ea161c8-0233-4e4b-b67b-7ef714d752ca%2Fu6teml_processed.png&w=3840&q=75)
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.)
Machinery
Asset
Computer equipment
Used delivery truck*
Furniture
Date Placed in
Service
October 25
February 3
August 17
April 22
Original
Basis
$ 116,000
44,500
57,500
207,500
The delivery truck is not a luxury automobile.
Note: Do not round intermediate calculations. Round your answers to the nearest whole dollar amount.
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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