Debra does not elect immediate expensing under sect 179 she

Reference no: EM13586180

Debra acquired the following new assets during 2013:

Date	Asset	Cost
April 11	Office Furniture	$40,000
July 28	Trucks	40,000
November 3	Computers	70,000

Debra does not elect immediate expensing under § 179. She does take the additional first-year depreciation.

If required, round your answers to the nearest dollar. Click here to access Table 8.1 and Table 8.2 of the textbook.

a. What MACRS convention applies to the assets?
SelectMid-quarterMid-monthHalf-year Item 1

b. What class of property is each asset for MACRS?
SelectFurniture, seven-year; trucks, five-year; computers, five-yearFurniture, five-year; trucks, three-year; computers, three-yearFurniture, seven-year; trucks, three-year; computers, five-yearFurniture, five-year; trucks, five-year; computers, five-year Item 2

c. The cost recovery for the current year is:

Furniture:	$
Trucks:	$
Computers:	$

Reference no: EM13586180

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