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A large profitable corporation purchased a small jet plane for use by the firm's engineers. The plane cost $2,500,000. Use Tables 11-2 and 11-3 in
A large profitable corporation purchased a small jet plane for use by the firm's engineers. The plane cost $2,500,000. Use Tables 11-2 and 11-3 in the text or slides. Compute the depreciation for year 2 using MACRS. O $612,250 O $911,094 O $800,000 O $480,000An oil well is subject to a 15% depletion allowance. The gross income for one year is $700,000. The taxable income excluding depletion is $90,000. Find the allowable depletion charge for that year. 0 $90,000 0 $38,112 0 $91,500 0 $45,000 Various depreciation schedules have been computed for an asset having a salvage value of $90 at the end of its recovery period. Identify the type of depreciation used in each case. .mm 259 194 254 339 223 194 153 204 156 194 122 137 136 Column A [Choose] V Column B [Choose] V Column C [Choose] V Column D [Choose] V Column E [Choose] V
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