A piece of newly purchased industrial equipment costs $1,010,000 and is classifi

Question

A piece of newly purchased industrial equipment costs $1,010,000 and is classified as seven-year property under MACRS. The MACRS depreciation schedule is shown in MACRS Table.

PLEASE SHOW ALL WORK SO I CAN SEE HOW YOU GOT THE ANSWER!

Beginning
Year Beginning
Book Value Depreciation
Allowance Ending Book
Value 1 $      $       $    2               3               4               5               6               7                8                A piece of newly purchased industrial equipment costs $1,010,000 and is classified as seven-year property under MACRS. The MACRS depreciation schedule is shown in MACRS Table. PLEASE SHOW ALL WORK SO I CAN SEE HOW YOU GOT THE ANSWER! Beginning Year Beginning Book Value Depreciation Allowance Ending Book Value 1 $ $ $ 2 3 4 5 6 7 8

Explanation / Answer

Beginning Year Depreciation Beginning book Value Depreciation allowance Ending book value 1 14.29% 1010000 144329 865671 2 24.49% 865671 247349 618322 3 17.49% 618322 176649 441673 4 12.49% 441673 126149 315524 5 8.93% 315524 90193 225331 6 8.92% 225331 90092 135239 7 8.93% 135239 90193 45046 8 4.46% 45046 45046 0

Related Questions

Navigate

• Browse (All)
• Browse A
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.