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An owner of a mine has just purchased new mining equipment for $100,000 that she plans to use for 5 years before disposing of it.
An owner of a mine has just purchased new mining equipment for $100,000 that she plans to use for 5 years before disposing of it. Answer the following two questions. Click the icon to view the partial listing of depreciable assets used in business. The equipment's MACRS-ADS recovery period for tax purposes is: A. Ten years B. Seven years C. Six years D. Five years E. Four years The equipment's MACRS-ADS depreciation for the first year is equal to: A. $10,000 B. $5,000 C. $14,290 D. $7,145 E. $20,000 MACRS Class Lives and Recovery Periods
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