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ABC, Inc. has opened a branch office in Spain this year to sell the company's products. In the process of opening the new office in Spain, ABC purchased and placed in service several assets for the Spain office. However, the company is not quite sure how the assets in the Spain office should be depreciated. All of the assets were placed in service on the date that the office officially opened, 5/19/2010. The company would like to take the maximum deduction allowed by law on all of the assets.
a. What method should the assets in the Spain office be depreciated with for tax purposes?
b. What is the total depreciation for the assets listed below for 2010?
Relevant financial information concerning the new assets are below.....
Computer Server -Cost $200,000 Office Computers -Cost $125,000 Accounting system software -Cost $100,000 Furniture and fixtures -$150,000
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