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Book valueFind the book value for the asset shown in the accompanying table, assuming that MACRS depreciation is being used Asset Installed cost Recovery period

Book valueFind the book value for the asset shown in the accompanying table, assuming that MACRS depreciation is being used

Asset

Installed cost

Recovery

period

(years)

Elapsed time

since purchase

(years)

A

$832,000

5

4

Rounded Depreciation Percentages by Recovery Year Using MACRS for

First Four Property Classes

Percentage by recovery year*

Recovery year

3 years

5 years

7 years

10 years

1

33%

20%

14%

10%

2

45%

32%

25%

18%

3

15%

19%

18%

14%

4

7%

12%

12%

12%

5

12%

9%

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 retaining realism. To calculate the actual depreciation for tax purposes, be sure to apply the actual unrounded percentages or directly apply double-declining balance (200%) depreciation using the half-year convention.

The remaining book value is ____?

(Round to the nearest dollar.)

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