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What was basis for depreciation of the computer system

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Question - Suppose a computer software developer for a certain company purchased a computer system for $55,000 on April 27, 2017. The computer system is used for business 100% of the time. The accountant for the company elected to take a $10,000 Section 179 deduction, and the asset qualified for a special depreciation allowance.

Required -

(a) What was the basis for depreciation (in $) of the computer system?

(b) What was the amount (in $) of the first year's depreciation using MACRS?

Reference no: EM133188581

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