Required information Problem 10-54 (LO 10-2, LO 10-3) (Algo) Convers Corporation (calendar year-end) acquired the...
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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 $179 expense and bonus depreciation for this problem) (Use MACRS Table 1. Table 2 and Table 5) 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 a (Algo) a. What is the allowable MACRS depreciation on Convers's property in the current year assuming Convers does not elect $179 expense and elects out of bonus depreciation? (Round your intermediate calculations and final answer to the nearest whole dollar amount.) MACRS deprecation $ 53,009
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