At the beginning of the year, Anna began a calendar-year business and placed in service...
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Accounting
At the beginning of the year, Anna began a calendar-year business and placed in service the following assets during the year:
Asset
Date Acquired
Cost Basis
Computers
1/30
$ 47,500
Office desks
2/15
$ 51,500
Machinery
7/25
$ 94,500
Office building
8/13
$ 426,000
Assuming Anna 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.)
Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount.
a. What is Anna's year 1 cost recovery for each asset?
b. What is Anna's year 2 cost recovery for each asset?
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