Calculate smiths maximum depreciation expense


Smith LLC has acquired various types of assets recently. Below is a list of assets acquired during 2012 and 2013:

Asset                            Cost Basis                      Convention           Date Placed in Service

Machinery                     25,000                             Half-year                 1/24/12

Warehouse                   800,000                           Mid-month               8/1/12

Furniture                       110,000                              ?                           10/5/13

Computer Equipment    65,000                                 ?                           10/10/13

Office Equipment           34,000                                 ?                           9/28/13

Automobile                    35,000                                 ?                            7/15/13

Office Building               800,000                                 ?                            9/24/13

Smith did not elect §179 expense or potential bonus depreciation in 2012, but would like to elect §179 expense for 2013 (assume that taxable income is sufficient). Calculate Smith's maximum depreciation expense for 2013, rounded to the nearest whole number (ignore bonus depreciation for 2013).

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Accounting Basics: Calculate smiths maximum depreciation expense
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