ACC 431 Chap ppt ACC 431 Chap-pptx ^ ACC 431 Cap-pptx 揑袅Windows ACC 431 Chap-pptx SECTION 3(15 points) Answer the question on the space provided below. Show work for partial credit. The more organized and neat your work, the easier it will be to determine and award credit. If your writing is illegible or I cannot follow how you derived your answer-no credit will be awarded. You will need to consult the depreciation tables in your textbook to answer this question. In 2017, Dr. Edwin Jenner, a virologist, acquires the following assets to be used in his virology research business: Asset Cost Placed In Service March 8, 2017 May 17, 2017 June 28, 2017 September 1, 2017 December 8, 2017 14-yr old horse (Buttons) used for medical experiments 8,000 Office Furniture & fixtures Office supplies (paper, ink, etc.) Computers & peripheral equipment Medical equipment 14,000 1,400 48,000 500,000 Dr. Jenner's taxable income from his business would not create a limitation for purposes of the $179 deduction. Dr. Jenner does not want to take additional first-year depreciation (if avaitlable). e Dr. Jenner's cost recovery deduction under MACRS for each quaified asset and the total cost recovery deduction for 2017
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