Sairra LLC purchased only one asset during the current year (a full 12-month tax year). On April 16 Sairra placed in service furniture (seven-year property) with a basis of $37,000. Calculate the maximum depreciation expense for the current year (ignoring §179 and bonus depreciation). (Use MACRS Table 1.) Note: Round final answer to the nearest whole number. Multiple Choice $2,643 O $5,287 O $6,177 O $7,400 None of the choices are correct.
Sairra LLC purchased only one asset during the current year (a full 12-month tax year). On April 16 Sairra placed in service furniture (seven-year property) with a basis of $37,000. Calculate the maximum depreciation expense for the current year (ignoring §179 and bonus depreciation). (Use MACRS Table 1.) Note: Round final answer to the nearest whole number. Multiple Choice $2,643 O $5,287 O $6,177 O $7,400 None of the choices are correct.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Sairra LLC purchased only one asset during the current year (a full 12-month tax year). On April 16 Sairra
placed in service furniture (seven-year property) with a basis of $37,000. Calculate the maximum
depreciation expense for the current year (ignoring §179 and bonus depreciation). (Use MACRS Table 1.)
Note: Round final answer to the nearest whole number.
Multiple Choice
$2,643
O $5,287
O $6,177
O $7,400
None of the choices are correct.
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