Way Corporation disposed of the following tangible personal property assets in the current year. Assume that the delivery truck is not a luxury auto. Calculate Way Corporation’s 2020 depreciation deduction (ignore sec 179 expense and bonus depreciation for this problem.) Asset                                                  Date Acquired                  Date Sold            Convention               Original Basis Furniture (7-year)                           5/12/2016                          7/15/2020           HY                         $55,000 Machinery (7 year)                         3/23/2017                          3/15/2020           MQ                       72,000 Delivery Truck * (5 year)               9/17/2018                          3/13/2020           HY                         20,000 Machinery (7 year)                         10/11/2019                        8/11/2020           MQ                       270,000 Computer (5 year)                          10/11/2020

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Consolidation

Consolidation in general examination implies an asset oscillating between well-defined methods of trading status. Consolidation is commonly known as market indecisiveness, which completes when the asset's values move forward or backward the trading structure.