Evergreen Corporation (calendar year-end) acquired the following assets during the current year: (Use MACRS Table...
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Accounting
Evergreen Corporation (calendar year-end) acquired the following assets during the current year: (Use MACRS Table 1 and Table 2.)
Asset
Date Placed in Service
Original Basis
Machinery
October 25
$ 76,000
Computer equipment
February 3
14,500
Used delivery truck*
August 17
27,500
Furniture
April 22
157,500
*The delivery truck is not a luxury automobile.
a. What is the allowable depreciation on Evergreen's property in the current year, assuming Evergreen does not elect 179 expense and elects out of bonus depreciation?
b. What is the allowable depreciation on Evergreen's property in the current year if Evergreen does not elect out of bonus depreciation and elects out of 179 expense?
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