Mike purchases a heavy-duty truck (5-year class recovery property) for his delivery service on April 30, 2014. The truck is not considered a passenger automobile for purposes of the listed property and luxury automobile limitations. The truck has a depreciable basis of $39,080 and an estimated useful life of 5 years. Assume half-year convention for tax and no election to expense is made.
a. Calculate the amount of depreciation for 2014 using financial accounting straight-line depreciation (not the straight-line MACRS election) over the truck’s estimated useful life. $ __________________
b. Calculate the amount of depreciation for 2014 using the straight-line depreciation election, using MACRS tables over the minimum number of years. $ ______________
c. Calculate the amount of accelerated depreciation for 2014 that Mike could deduct using the MACRS tables. $ __________________