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a.3 b.5 c.7 d.10 Quesuon Completion Status: QUESTION 38 5 points Save A Use the following tables to answer the question below Lonestar Corporation purchased
a.3 b.5 c.7 d.10
Quesuon Completion Status: QUESTION 38 5 points Save A Use the following tables to answer the question below Lonestar Corporation purchased a new truck for $45,000. Once the vehicle is taken out of service, they expect for it to be able to be sold for $15,000. What is the depreciable value? Property class (recovery period) Definition 3 years 5 years 7 years Research equipment and certain special tools Computers, printers, copiers, duplicating equipment, cars, light-duty trucks, qualified technological equipment, and similar assets Office furniture, fixtures, most manufacturing equipment, railroad track, and single-purpose agricultural and horticultural structures Equipment used in petroleum refining or in the manufacture of tobacco products and certain food products 10 years Percentage by recovery year" Click Save and Submit to save and submit. Click Save All Answers to save all answers. Question Completion Status: Recovery year 3 years 7 years 1 33% 45 Percentage by recovery year 5 years 20% 14% 32 25 19 18 12 12 10 years 10% 18 14 2 3 15 4 7 5 12 9 12 9 6 5 9 8 7 9 7 8 4 6 9 6 10 6 11 4 Totals 100% 100% 100% 100% "These percentages have been rounded to the nearest whole percent to simplify calculations while retain- ing realism. To calculate the actual depreciation for tax purposes, be sure to apply the actual unrounded percentages or directly apply double-declining balance depreciation using the half-year convention. Click Save and Submit to save and submit. Click Save All Answers to save all answersStep by Step Solution
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