Evergreen Corporation (calendar year-end) acquired the following assets during the current year: (Use MACRS Table 1 and Table 2.) Asset Date Placed in Service Origin Basis Machinery October 25 $ 106,000 Computer equipment February 3 37,000 Used delivery truck* Footnote asterisk August 17 50,000 Furniture April 22 195,000 * Footnote asteriskThe delivery truck is not a luxury automobile. Note: Do not round intermediate calculations. Round your answers to the nearest whole dollar amount. b. What is the allowable depreciation on Evergreen's property in the current year if Evergreen does not elect out of bonus depreciation and elects out of $179 expense?
Evergreen Corporation (calendar year-end) acquired the following assets during the current year: (Use MACRS Table 1 and Table 2.) Asset Date Placed in Service Origin Basis Machinery October 25 $ 106,000 Computer equipment February 3 37,000 Used delivery truck* Footnote asterisk August 17 50,000 Furniture April 22 195,000 * Footnote asteriskThe delivery truck is not a luxury automobile. Note: Do not round intermediate calculations. Round your answers to the nearest whole dollar amount. b. What is the allowable depreciation on Evergreen's property in the current year if Evergreen does not elect out of bonus depreciation and elects out of $179 expense?
Chapter10: Cost Recovery On Property: Depreciation, Depletion, And Amortization
Section: Chapter Questions
Problem 21P
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am. 111.
Transcribed Image Text:Evergreen Corporation (calendar year-end) acquired the following assets during the current year: (Use MACRS Table 1 and Table 2.) Asset Date Placed in Service Original
Basis Machinery October 25 $ 106,000 Computer equipment February 3 37,000 Used delivery truck* Footnote asterisk August 17 50,000 Furniture April 22 195,000*
Footnote asteriskThe delivery truck is not a luxury automobile. Note: Do not round intermediate calculations. Round your answers to the nearest whole dollar amount. b.
What is the allowable depreciation on Evergreen's property in the current year if Evergreen does not elect out of bonus depreciation and elects out of $179 expense?
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