DLW Corporation acquired and placed in service the following assets during the year: ...
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Accounting
DLW Corporation acquired and placed in service the following assets during the year:
Date
Cost
Asset
Acquired
Basis
Computer equipment
2/19
$
16,300
Furniture
4/27
$
22,900
Commercial building
10/2
$
319,000
Assuming DLW 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.) (Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount.)
a. What is DLW's year 1 cost recovery for each asset?
Asset
Year 1 Cost Recovery
Computer equipment
Furniture
Commercial building
Total
$0
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