Question
Keyser petroleum just purchased some equipment at a cost of $67 000. What is the proper methodology for computing the depreciation expense for year 2
Keyser petroleum just purchased some equipment at a cost of $67 000. What is the proper methodology for computing the depreciation expense for year 2 if the equipment is classifies as 5-year property for MACRS?
| MACRS 5-year property | |
| Year | Rate |
| 1 | 20% |
| 2 | 32% |
| 3 | 19.20% |
| 4 | 11.52% |
| 5 | 11.52% |
| 6 | 5.76% |
The net book value of equipment will:_______________
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Extinction Governance Finance And Accounting
Authors: Jill Atkins, Martina Macpherson
1st Edition
0367492989, 978-0367492984
