[The following information applies to the questions displayed below.] At the beginning of the year, Anna began a calendar-year business and placed in service the following assets during the year: Date Acquired 1/30 Cost Basis $ 64,000 $ 68,000 $ 111,000 $ 448,000 Asset Computers Office desks 2/15 Machinery Office building 7/25 8/13 Assuming Anna does not elect $179 expensing and elects not to use bonus depreciation, answer the following questions: (Use MACRS Table 1, Table 2, Table 3, Table 4 and Table 5.) (Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount.) a. What is Anna's year 1 cost recovery for each asset? Year 1 Asset Cost Recovery Computers Office desks Machinery Office building Total $
[The following information applies to the questions displayed below.] At the beginning of the year, Anna began a calendar-year business and placed in service the following assets during the year: Date Acquired 1/30 Cost Basis $ 64,000 $ 68,000 $ 111,000 $ 448,000 Asset Computers Office desks 2/15 Machinery Office building 7/25 8/13 Assuming Anna does not elect $179 expensing and elects not to use bonus depreciation, answer the following questions: (Use MACRS Table 1, Table 2, Table 3, Table 4 and Table 5.) (Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount.) a. What is Anna's year 1 cost recovery for each asset? Year 1 Asset Cost Recovery Computers Office desks Machinery Office building Total $
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![[The following information applies to the questions displayed below.]
At the beginning of the year, Anna began a calendar-year business and placed in service the following assets during the
year:
Date Acquired
1/30
Asset
Cost Basis
$ 64,000
$ 68,000
$ 111,000
$ 448,000
Computers
Office desks
2/15
Machinery
Office building
7/25
8/13
Assuming Anna does not elect §179 expensing and elects not to use bonus depreciation, answer the following
questions: (Use MACRS Table 1, Table 2, Table 3, Table 4 and Table 5.) (Do not round intermediate calculations. Round
your final answers to the nearest whole dollar amount.)
a. What is Anna's year 1 cost recovery for each asset?
Year 1
Asset
Cost Recovery
Computers
Office desks
Machinery
Office building
Total
$](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F7c90e654-ccda-43a1-acc1-728dd6160a3d%2Fb2b474e8-05cd-4a3e-8b06-0d5d9df91eb2%2Fjax83k_processed.png&w=3840&q=75)
Transcribed Image Text:[The following information applies to the questions displayed below.]
At the beginning of the year, Anna began a calendar-year business and placed in service the following assets during the
year:
Date Acquired
1/30
Asset
Cost Basis
$ 64,000
$ 68,000
$ 111,000
$ 448,000
Computers
Office desks
2/15
Machinery
Office building
7/25
8/13
Assuming Anna does not elect §179 expensing and elects not to use bonus depreciation, answer the following
questions: (Use MACRS Table 1, Table 2, Table 3, Table 4 and Table 5.) (Do not round intermediate calculations. Round
your final answers to the nearest whole dollar amount.)
a. What is Anna's year 1 cost recovery for each asset?
Year 1
Asset
Cost Recovery
Computers
Office desks
Machinery
Office building
Total
$
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