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I just would like to know the steps it takes to get the right answer. $650,000 x .5 (mid-year) x 200% /3 years = $216,667b)
I just would like to know the steps it takes to get the right answer.
$650,000 x .5 (mid-year) x 200% /3 years = $216,667b) The asset was placed in service on October 2. (For the first year only, show how to-calculate the depreciation without the use of tables.)-Because more than 40 percent (in fact, 100 percent) of Firm L's depreciable personalty was-placed in service during the fourth quarter of the year, the firm must use a midquarter-convention to compute MACRS depreciation. Based on the recovery percentages in Appendix7-A, annual depreciation for personality placed in service in the fourth quarter are:-Year 18.3306$54.145-Year 261.11% of $650,000207 515Year 320.37% of $650,000132-4Year 410.19%-of $650,00066,235-Calculation of YYear 1 manually:$650,000 x 1.5/12 x 200% /3 years = $54,167Step by Step Solution
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