Wheeler LLC purchased two assets during the current year (a…
Wheeler LLC purchased two assets during the current year (a full 12-month tax year). Wheeler placed in service computer equipment (5-year property) on November 16 with a basis of $15,000 and furniture (7-year property) on April 20 with a basis of $11,000. Calculate depreciation expense, rounding to a whole number (ignoring §179 and bonus depreciation). The depreciation table value is 20% for 5 year property and 14.29% for 7 year property for the half year depreciation table. The mid quarter table has a 4th quarter 5 year value of 5%, and a 2nd quarter 7 year value of 17.85%.