Bonnie Jo Used Two Assets During the Current Year

question 22

Essay

Bonnie Jo used two assets during the current year. The first was computer equipment with an original basis of $15,000, currently in the second year of depreciation, and under the half-year convention. This asset was disposed of on October 1st of the current year. The second was furniture with an original basis of $24,000 placed in service during the first quarter, currently in the fourth year of depreciation, and under the mid-quarter convention. What is Bonnie Jo's depreciation expense for the current year? (Round final answer to the nearest whole number) (Use MACRS Table 1 and Table 2)

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Definitions:

Cardiac Catheterization

A medical procedure used to diagnose and treat cardiovascular conditions, involving the insertion of a catheter into the heart chambers or coronary arteries.

Bicuspid Valve

A valve in the heart known as the mitral valve, that controls blood flow from the left atrium to the left ventricle.

Tricuspid

Referring to the tricuspid valve, which is located between the right atrium and right ventricle of the heart and prevents backflow of blood.

Pulmonary

Pertaining to the lungs and respiratory system.