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! Required information Problem 10-54 (LO 10-2, LO 10-3)...

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Accounting

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! Required information Problem 10-54 (LO 10-2, LO 10-3) (Algo) Convers Corporation (calendar year-end) acquired the following assets during the current tax year (ignore 5179 expense and bonus depreciation for this problem) (Use MACRS Table 1. Table 2 and Table5) Date Placed in Asset Service Machinery October 25 Computer equipment February 3 Delivery truck March 17 Furniture April 22 Total *The delivery truck is not a luxury automobile Original Basis $ 82,000 22,000 35,000 162,000 $ 301,000 In addition to these assets, Convers installed new flooring (qualified improvement property) to its office building on May 12 at a cost of $420,000 Problem 10-54 Part b (Algo) b. What is the allowable MACRS depreciation on Convers's property in the current year assuming Convers does not elect out of bonus depreciation (but does not take $179 expense)? S MACRS depreciation 207 741

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