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What is Poplock year depreciation deduction for each asset

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Question - At the beginning of the year, Poplock began a calendar-year dog boarding business called Griff's Palace. Poplock bought and placed in service the following assets during the year:

Asset

Acquired Date

Cost Basis

Computer equipment

3/23

$9,600

Dog-grooming furniture

5/12

11,600

Pickup truck

9/17

10,000

Commercial building

10/11

316,000

Land (one acre)

10/11

126,000

Assuming Poplock does not elect §179 expensing and elects not to use bonus depreciation, answer the following questions:

a. What is Poplock's year 1 depreciation deduction for each asset?

b. What is Poplock's year 2 depreciation deduction for each asset?

Reference no: EM132431920

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