Bonnie Jo Used Two Assets During the Current Year

question 73

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 anddepreciated under the half-year convention. This asset was disposed of on October 1^st 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, anddepreciated under the mid-quarter convention. What is Bonnie Jo's depreciation deduction for the current year? (Round final answer to the nearest whole number.)(Use MACRS Table 1 and Table 2.)

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Definitions:

PCBs

Polychlorinated biphenyls, a group of man-made organic chemicals known for their environmental and health hazards.

Hazardous Area

A location that poses risks due to potentially dangerous conditions, such as the presence of flammable gases, combustible dust, or other explosive materials.

Green Taxes

Environmental taxes levied on goods and services that cause environmental pollution, aimed at encouraging eco-friendly practices.

Environmentally Harmful Activities

Actions that cause damage or harm to the environment, including pollution and destruction of natural resources.