Question
1-Maple Company purchases new equipment (7-year MACRS property) on January 10, 2018, at a cost of $430,000. Maple also purchases new machines (5-year MACRS property)
1-Maple Company purchases new equipment (7-year MACRS property) on January 10, 2018, at a cost of $430,000. Maple also purchases new machines (5-year MACRS property) on July 19, 2018 at a cost of $290,000. Maple wants to maximize its MACRS deductions; assume no taxable income limitations apply. What is Maple's total MACRS deduction for 2018?
a. $119,447.
b. $560,000.
c. $617,148.
d. $720,000.
(The answer IS NOT a. $119,647, please show me how to calculate the correct answer).
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Financial Accounting Theory
Authors: Craig Deegan, H. Bierman
4th Edition
0071013148, 978-0071013147
