Question
MRT, a calendar year corporation, placed the following assets in service this year. Asset Initial Cost Recovery Period Date Placed in Service Manufacturing equipment $
MRT, a calendar year corporation, placed the following assets in service this year.
| Asset | Initial Cost | Recovery Period | Date Placed in Service | |
| Manufacturing equipment | $ | 259,000 | 7 years | April 30 |
| Furniture and fixtures |
| 56,000 | 7 years | May 1 |
| Transportation equipment |
| 225,000 | 5 years | September 1 |
| Office equipment |
| 120,000 | 7 years | December 1 |
Required:
Compute MRTs MACRS depreciation with respect to the assets placed in service this year
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Auditing And Other Assurance Services
Authors: Alvin Arens, James Loebbecke, W Lemon, Ingrid Splettstoesser
9th Canadian Edition
0130091243, 978-0130091246
