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2 Ook Parry Corp. acquired new equipment for $5,100,000 in 20X6. For accounting purposes, the equipment will be depreciated over five years, straight-line, with
2 Ook Parry Corp. acquired new equipment for $5,100,000 in 20X6. For accounting purposes, the equipment will be depreciated over five years, straight-line, with a full year's depreciation in the first year. For income tax purposes, Parry can take CCA over the next three years of $315,000 in 20X6, $567,000 in 20X7, and $456,750 in 20X8. Parry's income tax rate is 36% Required: For each 31 December 20X6 through 20XB, determine: (Enter your answers in thousands to two decimal places.) 1. The tax basis for the equipment. 2006 20X7 20x3 rances Tax basis 2. The accounting besis for the equipment 2006 20X7 20X8 Accounting basis
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