Question
Find the book value for the asset shown in the accompanying table, assuming that MACRS depreciation is being used LOADING... . Asset Installed cost Recovery
Find the book value for the asset shown in the accompanying table, assuming that MACRS depreciation is being used
LOADING...
.
Asset | Installed cost | Recovery period (years) | Elapsed time since purchase (years) |
A | $ 841 comma 000$841,000 | 5 | 22 |
The remaining book value is $____
(Round to the nearest dollar.)
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 | 3333% | 2020% | 1414% | 1010% | |||||||||||
2 | 4545% | 3232% | 2525% | 1818% | |||||||||||
3 | 1515% | 1919% | 1818% | 1414% | |||||||||||
4 | 77% | 1212% | 1212% | 1212% | |||||||||||
5 | 1212% | 99% | 99% | ||||||||||||
6 | 55% | 99% | 88% | ||||||||||||
7 | 99% | 77% | |||||||||||||
8 | 44% | 66% | |||||||||||||
9 | 66% | ||||||||||||||
10 | 66% | ||||||||||||||
11 | 44% | ||||||||||||||
Totals | 100100% | 100100% | 100100% | 100100% |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started