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In: Finance
A company purchased an equipment that falls in 3-year property class. The cost of the equipment...
A company purchased an equipment that falls in 3-year property class. The cost of the equipment is 75,000 and installation cost is 5,000. The equipment is expected to have 3,000 salvage value. Using the MACRS depreciation table, calculate the MACRS depreciation charges for the 2nd year.
A.34,650
B.35,100
C.36,000
D.33,750
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jeff jeffy answered 7 months agoRelated Solutions
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In 2019, Canes Inc. purchased equipment classified as 5 Year
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What is the MACRS Depreciation for Year 3?
The cost of an equipment is $300,000 and falls in asset Class 9 for CCA deprecation...
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Lori, who is single, purchased 5-year class property for $200,000 and 7-year class property for $410,000...
Lori, who is single, purchased 5-year class property for
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Lori expects the taxable income derived from her business (without
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Lori wants to elect immediate § 179 expensing, but she doesn't know
which asset she should expense under § 179. She does not claim any
available additional first-year depreciation. Click here to access
Exhibit 8.1 and the depreciation...
Lori, who is single, purchased 5-year class property for $200,000 and 7-year class property for $410,000...
Lori, who is single, purchased 5-year class property for
$200,000 and 7-year class property for $410,000 on May 20, 2017.
Lori expects the taxable income derived from her business (without
regard to the amount expensed under § 179) to be about $800,000.
Lori wants to elect immediate § 179 expensing, but she doesn't know
which asset she should expense under § 179. She does not claim any
available additional first-year depreciation.
Click here to access Exhibit 8.1 and the depreciation...
Sharpe Machining Company purchased industrial tools costing $210,000, which fall in the 3-year property class under...
Sharpe Machining Company purchased industrial tools costing
$210,000, which fall in the 3-year property class under
MACRS.
Use Appendix A and Exhibit 16-9 for your reference. (Use
appropriate factor(s) from the tables provided.)
Required:
1. Prepare a schedule of depreciation deductions
assuming:
a. The firm uses the accelerated
depreciation schedule specified by MACRS.
b. The firm uses the optional
straight-line depreciation method and the half-year
convention.
2. Calculate the present value of the depreciation
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Trenton Fabrication Company purchased industrial tools costing $160,000, which fall in the 3-year property class under...
Trenton Fabrication Company purchased industrial tools costing
$160,000, which fall in the 3-year property class under MACRS.
Use Appendix A and Exhibit 16-9 for your reference. (Use
appropriate factor(s) from the tables provided.). (Round your final
answers to the nearest dollar amount.)
Required:
1.
Prepare a schedule of
depreciation deductions assuming:
a.
The firm uses the accelerated depreciation schedule specified by
MACRS
b.
The firm uses the optional straight-line depreciation method and
the half-year convention.
2.
Calculate the present value...
Trenton Fabrication Company purchased industrial tools costing $230,000, which fall in the 3-year property class under...
Trenton Fabrication Company purchased industrial tools costing
$230,000, which fall in the 3-year property class under MACRS.
Use Appendix A and Exhibit 16-9 for your reference. (Use
appropriate factor(s) from the tables provided.). (Round your final
answers to the nearest dollar amount.)
Required:
1. Prepare a schedule of depreciation deductions assuming:
a. The firm uses the accelerated depreciation schedule specified
by MACRS
b. The firm uses the optional straight-line depreciation method
and the half-year convention.
2. Calculate the present value...
Trenton Fabrication Company purchased industrial tools costing $190,000, which fall in the 3-year property class under...
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$190,000, which fall in the 3-year property class under MACRS.
Required: 1. Prepare a 4 year schedule of depreciation deductions
assuming: a. The firm uses the accelerated depreciation schedule
specified by MACRS b. The firm uses the optional straight-line
depreciation method and the half-year convention. 2. Calculate the
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ABC Company purchased $94118 of equipment 4 years ago. The equipment is 7-year MACRS property. The...
ABC Company purchased $94118 of equipment 4 years ago. The
equipment is 7-year MACRS property. The firm is selling this
equipment today for $5129. What is the After-tax Salvage Value if
the tax rate is 15%? The MACRS allowance percentages are as
follows, commencing with year one: 14.29, 24.49, 17.49, 12.49,
8.93, 8.92, 8.93, and 4.46 percent. Enter your answer rounded off
to two decimal points. Do not enter $ or comma in the answer box.
For example, if your...
ABC Company purchased $50484 of equipment 5 years ago. The equipment is 7-year MACRS property. The...
ABC Company purchased $50484 of equipment 5 years ago. The
equipment is 7-year MACRS property. The firm is selling this
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the tax rate is 35 percent? The MACRS allowance percentages are as
follows, commencing with year one: 14.29, 24.49, 17.49, 12.49,
8.93, 8.92, 8.93, and 4.46 percent. Enter your answer rounded off
to two decimal points. Do not enter $ or comma in the answer box.
For example, if...
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