Cost-recovery deductions for the assets

Assignment Help Business Management

Reference no: EM13992019

On June 2, 2010, Lokar Corporation purchases a patent for $68,000 from the inventor of a new extrusion process. The patent has 12 years remaining on its legal life. Also, Lokar purchases substantially all the assets of the Barrios Corporation for $750,000 on September 8, 2010. The values of the assets listed in the purchase agree- ment are as follows:

Inventory	$250,000
Manufacturing equipment	320,000
Patent on compression process	105,000
Goodwill	95,000

Determine the maximum 2010 cost-recovery deductions for the assets purchased.

Reference no: EM13992019

Questions Cloud

Calculate the maximum acceleration of a car : Calculate the maximum acceleration of a car with four wheel drive that is heading up a 8.5° slope (one that makes an angle of 8.5°with the horizontal) under the following road conditions.

Determine the mass of the receiver : During a football game, a receiver has just caught a pass and is standing still. Before he can move, a tackler, running at a velocity of +3.40 m/s, grabs and holds onto him so that they move off together with a velocity of +1.90 m/s. If the mass o..

How far horizontally does the ball travel : A football player kicks a ball at an angle of 37 degrees above the horizontal, with a velocity of 20.0 m/s^2. How far horizontally does the ball travel in 1.80 s? How high does the ball travel in 1.80 s? (g = 9.80 m/s, and air resistance is neglig..

Cost-recovery deductions for the assets : Determine the maximum 2010 cost-recovery deductions for the assets purchased.

Find magnitude and show direction of the net magnetic force : Calculate the magnitude and show the direction of the net magnetic force exerted on the rectangular loop shown in the picture. Explain your reasoning.

What are the median goals scored against them : The coach would like to know the following about her team=s efforts this past year: On average, how the team is doing - can you help her out? What are the median goals scored against them

Lawrence cost depletion deduction : What are Lawrence's cost depletion deduction for the current year and his adjusted basis for the mineral deposit after deducting depletion?

What are the magnitude and direction of the resultant : The gastrocnemius muscle heads pull on the Achilles tendon with two forces F1 and F2 as shown. What are the magnitude and direction (relative to horizontal) of the resultant : (net) force acting on the tendon?

User Account

All Pages