Chapter 08 Practice Prob x G C ezto.mheducation.com/hm.tpx Question 7 (of 10) 2.

Question

Chapter 08 Practice Prob x G C ezto.mheducation.com/hm.tpx Question 7 (of 10) 2.00 points 8-6 Exercise 8-14A Computing depreclation for tax purposes LO Crossroads Eye Care Company purchased $123,600 of equipment on March 1, 2016 20.00 32.00 19.20 11.52 11.52 5.76 operty.% 14.29 24.49 17.49 12.49 8.93 8.92 8.93 4.46 Required a. Compute the amount of depreciation expense that is deductible under MACRS for 2016 and 2017, assuming that the equipment is classitied as seven-year property (Round your answers to the nearest whole dollar amount. 2016 2017 b. Compute assuming that the equipment is classited as five-year property Round your answers to the nearest whole dollar amount.) the amount of depreciation expense that is deductible under MACRS for 2016 and 2017

Explanation / Answer

(a) Depreciation Expenses that is deductible under MACRS for 2016 & 2017 assuming that the equipment is classified as seven year property

2016 =       $ 17,657

2017 =       $ 30,269

(b) Depreciation Expenses that is deductible under MACRS for 2016 & 2017 assuming that the equipment is classified as five year property

2016 =       $ 24,720

2017 =       $ 39,552

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