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cant calculate the ADS, please help me A piece of construction equipment (asset class 15.0 ) was purchased by the Jones Construction Company in 2021
cant calculate the ADS, please help me
A piece of construction equipment (asset class 15.0 ) was purchased by the Jones Construction Company in 2021 . The cost basis was $310,000. The plan is to use the equipment and dispose it after about 8 years of service. a). Determine the MACRS-GDS and MACRS-ADS recovery periods for the equipment. b). Determine the annual GDS and ADS depreciation deductions for this property c). If the company disposes the equipment and sells it sooner in 2023 , instead of 2029 , what would the the GDS and ADS depreciations for that year? d) Based on (c), what are the corresponding book values under the GDS and ADS depreciations? Click the icon to view the partial listing of depreciable assets used in business. Click the icon to view the GDS Recovery Rates (rk) Determine the ADS depreciation deductions for this property. (Round to the nearest dollar.) c). The GDS depreciation deduction for the year 2023 would be $ (Round to the nearest dollar) A piece of construction equipment (asset class 15.0 ) was purchased by the Jones Construction Company in 2021 . The cost basis was $310,000. The plan is to use the equipment and dispose it after about 8 years of service. a). Determine the MACRS-GDS and MACRS-ADS recovery periods for the equipment. b). Determine the annual GDS and ADS depreciation deductions for this property c). If the company disposes the equipment and sells it sooner in 2023 , instead of 2029 , what would the the GDS and ADS depreciations for that year? d) Based on (c), what are the corresponding book values under the GDS and ADS depreciations? Click the icon to view the partial listing of depreciable assets used in business. Click the icon to view the GDS Recovery Rates (rk) Determine the ADS depreciation deductions for this property. (Round to the nearest dollar.) c). The GDS depreciation deduction for the year 2023 would be $ (Round to the nearest dollar) Step by Step Solution
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