Weston acquires a new office machine (seven-year class asset) on August 2, 2017, for $75,000....
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Accounting
Weston acquires a new office machine (seven-year class asset) on August 2, 2017, for $75,000. This is the only asset Weston acquired during the year. He does not elect immediate expensing under 179. He claims the maximum additional first-year depreciation deduction. On September 15, 2018, Weston sells the machine.
If required, round your answers to the nearest dollar.
a.) What MACRS convention applies to the machine? Half-year Weston's cost recovery for 2017 is $._____________
b.) Westin's 2018 is $._____________
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