What is poplocks year one depreciation deduction for asset

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Reference no: EM133906158

Problem

At the beginning of the current year, Poplock began a calendar-year dog boarding business called Griff's Palace. Poplock bought and placed in service the following assets during the year: Asset Date Acquired Cost Basis Computer equipment 3/23 $ 5,200 Dog-grooming furniture 5/12 7,200 Pickup truck 9/17 10,200 Commercial building 10/11 272,000 Land (one acre) 10/11 82,000 Assuming Poplock does not elect §179 expensing and elects not to use bonus depreciation, answer the following questions: (Use MACRS Table 1, Table 2, Table 3, Table 4 and Table 5.) Get the instant assignment help. What is Poplock's year 1 depreciation deduction for each asset?

Reference no: EM133906158

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