The MACRS basis of 5-year property acquired on Dec 3, 20x1 is $10,000. No section...
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The MACRS basis of 5-year property acquired on Dec 3, 20x1 is $10,000. No section 179 or bonus depreciation is taken on the property. The property is sold on Sept 4, 20x2. If the Mid-quarter convention applies to personal property acquired in 20x1 and regular (accelerated) MACRS is used, depreciation expense for 20x2 is: 1) $3,800 2) $1,900 3) $2,375 4) $3,008 5) $2,692
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