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.) Asset Machinery 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. Depreciation Original Basis $ 70,000 10,000 23,000 150,000 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 §179 expense?
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.) Asset Machinery 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. Depreciation Original Basis $ 70,000 10,000 23,000 150,000 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 §179 expense?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Could someone please help me solve this? I can not get the answer right no matter how much I try
![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
Service
October 25
February 3
August 17
April 22
*The delivery truck is not a luxury automobile.
Asset
Machinery
Computer equipment
Used delivery truck*
Furniture
Depreciation
Original
Basis
$ 70,000
10,000
23,000
150,000
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 §179 expense?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F46008881-4860-4e40-9a28-36cc8a3ef1cc%2F75197023-e181-4f7b-a538-d84d4f249fe3%2F48z8osz_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.)
Date Placed in
Service
October 25
February 3
August 17
April 22
*The delivery truck is not a luxury automobile.
Asset
Machinery
Computer equipment
Used delivery truck*
Furniture
Depreciation
Original
Basis
$ 70,000
10,000
23,000
150,000
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 §179 expense?
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