Olgas depreciation expense

Reference no: EM13121710

Olga Corporation, a calendar year taxpayer, purchased an item of three-year property costing $10,000 on February 1, 2008. It sells the property on October 21, 2010.

a. Compute Olga's depreciation expense for 2008-2010 assuming the half-year convention applies to all three-year property placed in service during 2008.

b. Compute Olga's depreciation expense for 2008-2010 assuming the mid-quarter convention applies to all three-year property placed in service during 2008.

Reference no: EM13121710

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