On February 2, 2022, Alexandra purchases a personal computer. The computer cost $4,920. Alexandra uses the computer 85 percent of the time in her accounting business, andthe remaining 15 percent of the time for various personal uses. Calculate Alexandra's maximum depreciation deduction for 2022 for the computer, assuming half-year conventionand she does not use bonus depreciation or make the election to expense.Click here to access the depreciation table.If required, round your answer to nearest dollar. TABLE 8.2RecoveryYear123456789101112131415161718192021ACCELERATED DEPRECIATION FOR PERSONAL PROPERTY ASSUMINGHALF-YEAR CONVENTION (FOR PROPERTY PLACED IN SERVICE AFTERDECEMBER 31, 1986)3-Year(200% DB)33.3344.4514.81*7.41*Switch to straight-line depreciation.5-Year(200% DB)20.0032.0019.2011.52 *11.525.767-Year(200% DB)14.2924.4917.4912.498.93 *8.928.934.4610-Year(200% DB)10.0018.0014.4011.529.227.376.55 *6.556.566.553.2815-Year(150% DB)5.009.508.557.706.936.235.90 *5.905.915.905.915.905.915.905.912.9520-Year(150% DB)3.7507.2196.6776.1775.7135.2854.8884.5224.462 *4.4614.4624.4614.4624.4614.4624.4614.4624.4614.4624.4612.231

Depreciation refers to the decline in the value of an asset over its useful life. The main causes of…

On February 2, 2022, Alexandra purchases a personal computer. The computer cost $4,920. Alexandra uses the computer 85 percent of the time in her accounting business, and the remaining 15 percent of the time for various personal uses. Calculate Alexandra's maximum depreciation deduction for 2022 for the computer, assuming half-year convention and she does not use bonus depreciation or make the election to expense. Click here to access the depreciation table. If required, round your answer to nearest dollar.

On February 2, 2022, Alexandra purchases a personal computer. The computer cost $4,920. Alexandra uses the computer 85 percent of the time in her accounting business, and the remaining 15 percent of the time for various personal uses. Calculate Alexandra's maximum depreciation deduction for 2022 for the computer, assuming half-year convention and she does not use bonus depreciation or make the election to expense. Click here to access the depreciation table. If required, round your answer to nearest dollar.

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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