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 Original Basis $ 96,000 February 3 29,500 August 17 42,500 April 22 182,500 "The delivery truck is not a luxury automobile. 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
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 Original Basis $ 96,000 February 3 29,500 August 17 42,500 April 22 182,500 "The delivery truck is not a luxury automobile. 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
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
![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
Original
Basis
$ 96,000
February 3
29,500
August 17
42,500
April 22
182,500
"The delivery truck is not a luxury automobile.
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](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ffc39c1a4-8872-4728-a91f-f3cde56b89d6%2F8f779705-0aae-4906-b05a-0818dfb81af3%2Fp9d6eqv_processed.png&w=3840&q=75)
Transcribed Image Text: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
Original
Basis
$ 96,000
February 3
29,500
August 17
42,500
April 22
182,500
"The delivery truck is not a luxury automobile.
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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