Help Save &Exit Tasha LLC purchased furniture (7-year property, on April 20 for $20,000 and...
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Help Save &Exit Tasha LLC purchased furniture (7-year property, on April 20 for $20,000 and used the half-year convention. Tasha did not take 179 or bonus depreciation in the year it acquired the furniture. During the current year, which is the fourth year Tasha LLC owned the property, the property was disposed of on December 15. Calculate the maximum depreciation expense. (Use MACRS Table 1) (Round final answer to the nearest whole number.) Multiple Choice $898 $1,249 None of the choices are correct TABLE 1 MACRS Half-Year Convention Depreciation Rate for Recovery Period Year 3-Year 5-Year 7-Year 10-Year 15-Year 20-Year 3.750% 7.219 6.677 14.29% 24.49 17.49 2.49 8.93 8.92 8.93 4.46 5.00% 9.50 8.55 7.70 6.93 6.23 5.90 5.90 5.91 5.90 5.91 5.90 5.91 5.90 5.91 2.95 33.33% 44.45 14.81 7.41 20.00% 32.00 19.20 11.52 11.52 5.76 1 0.00% 18.00 14.40 11.52 9.22 7.37 6.55 6.55 6.56 6.55 3.28 2 3 4 5 6 5.713 5.285 4.888 4.522 4.462 4.461 4.462 4.461 4.462 4.461 4.462 4.461 4.462 4.461 4.462 4.461 2.231 9 10 12 13 14 16 17 18 19 20 21
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