Your company just purchased office furniture (asset class 00.11) for $100,000 and placed it in service on
Question:
Your company just purchased office furniture (asset class 00.11) for $100,000 and placed it in service on August 13, 2007. The cost basis for the furniture is $100,000, and it will be depreciated with the GDS using half-year convention. The expected salvage (market) value of the furniture is $5,000 in 2015. Determine the recovery period for the furniture and its depreciation deductions over the recovery period.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 46% (13 reviews)
From Table 72 the GDS recovery period is seven years The MACRS depreciation deductions from Table 73 ...View the full answer
Answered By
ANDREW KIPRUTO
Academic Writing Expert
I have over 7 years of research and application experience. I am trained and licensed to provide expertise in IT information, computer sciences related topics and other units like chemistry, Business, law, biology, biochemistry, and genetics. I'm a network and IT admin with +8 years of experience in all kind of environments.
I can help you in the following areas:
Networking
- Ethernet, Wireless Airmax and 802.11, fiber networks on GPON/GEPON and WDM
- Protocols and IP Services: VLANs, LACP, ACLs, VPNs, OSPF, BGP, RADIUS, PPPoE, DNS, Proxies, SNMP
- Vendors: MikroTik, Ubiquiti, Cisco, Juniper, HP, Dell, DrayTek, SMC, Zyxel, Furukawa Electric, and many more
- Monitoring Systems: PRTG, Zabbix, Whatsup Gold, TheDude, RRDtoo
Always available for new projects! Contact me for any inquiries
4.30+
1+ Reviews
10+ Question Solved
Related Book For
Engineering Economy
ISBN: 978-0133439274
16th edition
Authors: William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Question Posted:
Students also viewed these Business questions
-
Your company just purchased a bar-code system for $70,000. It has a five-year MACRS class life. The expected market value of the bar-code system in 3 years is $32,000. What is the gain (or loss) when...
-
"How Can We Encourage a Few Disrupters? " Adrianna is the CEO of Luxury Designs, an office furniture company that has been in business for forty years. The company both manufactures its own furniture...
-
Steven B. (age 42) and Debra S. (age 41) Marshall are married and live at 426 East Twin Oaks Road, Sioux Falls, SD 57105. Steven is the regional manager for a restaurant chain (Moveable Feast), and...
-
In Problems 1316, three matrices A, B, and C are given. Verify by computation of both sides the associative law A(BC) = (AB)C. 25 = [ 3 i] c = [_ [-] -3 1 A = [2 -1], B=
-
The U.S. National Science Foundation publishes data on doctoral degrees conferred in the document Science and Engineering Doctorate Awards. The following joint probability distribution summarizes the...
-
Paige Metals Company has two departments-cutting and Grinding-and manufactures three products. Budgeted unit production for the coming year is 21,000 of Product T, 36,000 of Product M, and 30,000 of...
-
Consider the hypothetical reaction in Figure Q31.4 in which an electron (e - ) annihilates a positron (e + ), with the positron initially at rest. Can this reaction result in a single emitted photon?...
-
The following information was taken from the 2008 and 2009 Form 10-Ks for Dell, Inc. Required a. Explain whether each line of information in the table above would best be described as being primarily...
-
The income of a company for a year on a variable costing basis is $85 000 and on an absorption costing basis is $73 000. Fixed costs per unit were the same in both the prior and current year ($1.50...
-
We have sampled a low-pass signal with a bandwidth of 200 KHz using 1024 levels of quantization. a. Calculate the bit rate of the digitized signal. b. Calculate the SNRdB for this signal. c....
-
A start-up biotech company is considering making an investment of $100,000 in a new filtration system. The associated estimates are summarized below: Straight-line depreciation will be used, and the...
-
The following mutually exclusive investment alter-natives have been presented to you. (See Table P6-82.) The life of all alternatives is 10 years. The IRR for Alternative A is most nearly: (a) 30%...
-
Recall that the trash bag manufacturer has concluded that its new 30-gallon bag will be the strongest such bag on the market if its mean breaking strength is at least 50 pounds. In order to provide...
-
A company determines that monthly sales S(t), in thousands of dollars, after t months of marketing a product is given by S(t) = 23-551 + 230t+ 160. a) Find S'(1), S'(2), and S'(4). b) Find S''(1),...
-
Dan is a 16 year-old who decided to skip his adolescent development class. If Dan was 19 years-old, this would be his choice, but because of his age, he has broken the law. What type of offence did...
-
You need to remove a bolt from a metal door. The maximum torque the bolt can withstand before starting to rotate is 7 = 70 N-m. You apply a wrench of m = 0.5 kg and 1 = 0.3 m long. You push down on...
-
Lesson 10.1: Emotional Intelligence Emotional Intelligence is a type of social intelligence that affords the individual the ability to monitor his own and others' emotions, to discriminate among...
-
Harriet??s annuity has a total cash value of $2000, and she has paid a total of $1,500 into it. Under a Section 1035 exchange, Harriet rolls the entire value of the annuity into a different annuity....
-
One type of debt that you may be familiar with is student loan debt. Using the FRED economic database ( https://fred.stlouisfed.org/ ), search for student loans, then click on Student Loans Owned and...
-
The Zwatch Company manufactures trendy, high-quality moderately priced watches. As Zwatch's senior financial analyst, you are asked to recommend a method of inventory costing. The CFO will use your...
-
The Texas Department of Transportation (TxDOT) is considering two designs for crash barriers along a reconstructed portion of 1-10. Design 2B will cost $3 million to install and $135,000 per year to...
-
Chem-Tex Chemical is considering two additives for improving the dry-weather stability of its low-cost acrylic paint. Additive A has a first cost of $110,000 and an annual operating cost of $60,000....
-
The manager of Liquid Sleeve, Inc., a company that makes a sealing solution for machine shaft surfaces that have been compromised by abrasion, high pressures, or inadequate lubrication, is...
-
What is the risk profile of your company? (How much overall risk is there in this firm? Where is this risk coming from (market, firm, industry or currency)? (APPLE COMPANY LATEST DATA) How is the...
-
What is the duration for the following bond with annual payments? 5.6300 5.7957 4.9894 5.1910 5.3806
-
DOLLAR TREE GROCERY OUTLET Short-Term Liquidity 2021 2022 2021 2022 Current Ratio 1.35 1.51 1.86 1.67 Quick Ratio 0.24 0.15 0.63 0.42 Cash Ratio Cash Conversion Cycle 34.78 45.75 19.41 21.61 Days...
Study smarter with the SolutionInn App