Eddie purchased only one asset during the current year. Eddie placed in service furniture (7-year property) on May 1ˢᵗ with a basis of $26,500. Calculate the maximum depreciation expense, rounded to the nearest whole number (ignoring §179 and bonus depreciation). (Use MACRS Table 1)

Question

Eddie purchased only one asset during the current year. Eddie placed in service furniture (7-year property) on May 1ˢᵗ with a basis of $26,500. Calculate the maximum depreciation expense, rounded to the nearest whole number (ignoring §179 and bonus depreciation). (Use MACRS Table 1)

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The Answer of Eddie purchased only one asset during the current year. Eddie placed in service furniture (7-year property) on May 1ˢᵗ with a basis of $26,500. Calculate the maximum depreciation expense, rounded to the nearest whole number (ignoring §179 and bonus depreciation). (Use MACRS Table 1)

Eddie Purchased Only One Asset During the Current Year