Question
In 2016, Olga Co. purchased a piece of business-use equipment for $100,000. The equipment has a 7-year MACRS GDS recovery period and is depreciated under
In 2016, Olga Co. purchased a piece of business-use equipment for $100,000. The equipment has a 7-year MACRS GDS recovery period and is depreciated under MACRSGDS (no SL election). The equipment was placed in service on September 10, 2016. This was the only asset that Olga Co. placed in service in 2016. Olga Co. did not elect Section179 deduction and elected out of Section 168(k) bonus depreciation. Olga Co. sold the equipment on February 1, 2019. What is Olga Co.'s depreciation deduction for 2019 (year 4)?
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Financial Accounting An Introduction
Authors: Mr Barry Elliott, Mr Augustine Benedict
2nd Edition
0273737651, 9780273737650
