4 Required information The following information applies to the questions displa

Question

4 Required information The following information applies to the questions displayed below DLW Corporation acquired and placed in service the following assets during the year Part 1 of 2 Anset 0.23 points Computer equipment Furniture 2/22 10,500 3/5 21,000 7/6 315,000 Commercial bui1ding eBook Print References Assuming DLW does not elect $179 expensing or bonus depreciation, answer the following questions: (Use MACRS Table 1 Table 2. Table 3. Table 4 and Table 5) (Do not round intermediate colculations. Round your final answers to the nearest whole dollar amount) a. What is DLW's year 1 cost recovery for each asset? Asset Computer equipment Furniture Commercial building Total

Explanation / Answer

Date Acquired Qtr Recovery period Basis Rate Dep exp A*B   Computer equipment 22-Feb 1 5 years 10500 20% 2100   Furniture 5-Mar 1 7 years 21000 14.29% 3000.9   Commercial building 6-Jul 3 39 years 315000 1.177% 3707.55 ans 1 Cost recovery   Computer equipment 2100   Furniture 3001   Commercial building 3708 Total 8808 ans 2 Year 3 Date Acquired Recovery period Basis A Rate Portion of the year Effective rate E Dep exp A*E   Computer equipment 22-Feb 5 years 10500 19.2% 50% 9.60% 1008   Furniture 5-Mar 7 years 21000 17.49% 50% 8.75% 1836   Commercial building 6-Jul 39 years 315000 2.564% 4.17% 0.11% 337 Total 3181.244 ans b year 3 Cost recovery   Computer equipment 1008   Furniture 1836   Commercial building 337 Total 3181

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