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Kingbird Corporation purchased an asset at a cost of $63,750 on March 1, 2020. The asset has a useful life of 8 years and a
Kingbird Corporation purchased an asset at a cost of $63,750 on March 1, 2020. The asset has a useful life of 8 years and a salvage value of $5,100. For tax purposes, the MACRS class life is 5 years. Recovery Year 1 3-year (200% DB) 33.33 44.45 14.81* 7.41 2 MACRS Depreciation Rates by Class of Property 5-year 7-year 10-year (200% DB) (200% DB) (200% DB) 20.00 14.29 10.00 32.00 24.29 18.00 19.20 17.49 14.40 11.52* 12.49 11.52 11.52 8.93* 9.22 5.76 8.92 7.37 8.93 6.559 4.46 6.55 6.56 6.55 3.28 15-year (150% DB) 5.00 9.50 8.55 7.70 6.93 3 4 5 6 7 8 9 10 11 12 6.23 5.90* 5.90 5.91 5.90 5.91 5.90 5.91 5.90 5.91 2.95 20-year (150% DB) 3.750 7.219 6.677 6.177 5.713 5.285 4.888 4.522 4.462* 4.461 4.462 4.461 4.462 4.461 4.462 4.461 4.462 4.461 4.462 4.461 2.231 13 14 15 16 17 18 19 20 21 *Switchover to straight-line depreciation. Compute tax depreciation for each year 2020-2025. (Round answers to decimal places, eg. 45,892.) Tax depreciation for 2020 $ Tax depreciation for 2021 $ Tax depreciation for 2022 $ Tax depreciation for 2023 $ Tax depreciation for 2024 $ Tax depreciation for 2025 $
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