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What is Burbank maximum cost recovery deduction

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Question - Burbank Corporation (calendar-year-end) acquired the following property this year: (Round your answer to the nearest whole dollar amount.)

Asset Placed in Service Basis

Used copier November 12 $7,800

New computer equipment June 6 $14,000

Furniture July 15 $32,000

New delivery truck October 28 $19,000

Luxury auto January 31 $70,000

Total $142,800

Burbank acquired the copier in a tax-deferred transaction when the shareholder contributed the copier to the business in exchange for stock.

Required - What is Burbank's maximum cost recovery deduction this year assuming it elects §179 expense and claims bonus depreciation?

Reference no: EM132634617

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