(Solved): TABLE 2d MACRS-Mid Quarter Convention: For property placed in service during the fourth quart ...

TABLE 2d MACRS-Mid Quarter Convention: For property placed in service during the fourth quarter Required information [The following information applies to the questions displayed below.] Evergreen Corporation (calendar year-end) acquired the following assets during the current year: (Use MACRS Table 1 and Table 2.) *The delivery truck is not a luxury automobile. - What is the allowable depreciation on Evergreen's property in the current year if Evergreen does not elect out of bonus depreciation nd elects out of $\$179$ expense? TABLE 2a MACRS Mid-Quarter Convention: For property placed in service during the first quarter \begin{tabular}{|c|c|c|} \hline \multicolumn{3}{|c|}{ Depreciation Rate for Recovery Period } \\ \hline & 5-Year & 7-Year \\ \hline Year 1 & $35.00\%$ & $25.00\%$ \\ \hline Year 2 & 26.00 & 21.43 \\ \hline Year 3 & 15.60 & 15.31 \\ \hline Year 4 & 11.01 & 10.93 \\ \hline Year 5 & 11.01 & 8.75 \\ \hline Year 6 & 1.38 & 8.74 \\ \hline Year 7 & & 8.75 \\ \hline Year 8 & & 1.09 \\ \hline \end{tabular} TABLE 2b MACRS Mid-Quarter Convention: For property placed in service during the second quarter \begin{tabular}{|c|c|c|} \hline \multicolumn{3}{|c|}{ Depreciation Rate for Recovery Period } \\ \hline & 5-Year & 7-Year \\ \hline Year 1 & $25.00\%$ & $17.85\%$ \\ \hline Year 2 & 30.00 & 23.47 \\ \hline Year 3 & 18.00 & 16.76 \\ \hline Year 4 & 11.37 & 11.97 \\ \hline Year 5 & 11.37 & 8.87 \\ \hline Year 6 & 4.26 & 8.87 \\ \hline Year 7 & & 8.87 \\ \hline Year 8 & & 3.34 \\ \hline \end{tabular} 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? Table 1 MACRS Half-Year Convention \begin{tabular}{|l|c|c|c|c|c|c|} \hline \multicolumn{7}{|c|}{ Depreciation Rate for Recovery Period } \\ \hline & 3-Year & 5-Year & 7-Year & 10-Year & 15-Year & 20-Year \\ \hline Year 1 & $33.33\%$ & $20.00\%$ & $14.29\%$ & $10.00\%$ & $5.00\%$ & $3.750\%$ \\ \hline Year 2 & 44.45 & 32.00 & 24.49 & 18.00 & 9.50 & 7.219 \\ \hline Year 3 & 14.81 & 19.20 & 17.49 & 14.40 & 8.55 & 6.677 \\ \hline Year 4 & 7.41 & 11.52 & 12.49 & 11.52 & 7.70 & 6.177 \\ \hline Year 5 & & 11.52 & 8.93 & 9.22 & 6.93 & 5.713 \\ \hline Year 6 & & 5.76 & 8.92 & 7.37 & 6.23 & 5.285 \\ \hline Year 7 & & & 8.93 & 6.55 & 5.90 & 4.888 \\ \hline Year 8 & & & 4.46 & 6.55 & 5.90 & 4.522 \\ \hline Year 9 & & & & 6.56 & 5.91 & 4.462 \\ \hline Year 10 & & & & 6.55 & 5.90 & 4.461 \\ \hline Year 11 & & & & 3.28 & 5.91 & 4.462 \\ \hline Year 12 & & & & & 5.90 & 4.461 \\ \hline Year 13 & & & & & 5.91 & 4.462 \\ \hline Year 14 & & & & & 5.90 & 4.461 \\ \hline Year 15 & & & & & 5.91 & 4.462 \\ \hline Year 16 & & & & & 2.95 & 4.461 \\ \hline Year 17 & & & & & & 4.462 \\ \hline Year 18 & & & & & & 4.461 \\ \hline Year 19 & & & & & & 4.462 \\ \hline Year 20 & & & & & & 2.461 \\ \hline Year 21 & & & & & & \\ \hline \end{tabular}