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ohnson Industries purchased a metal-working lathe for $32,000. This item will be used for business 90% of the time. Accountants elected to take a $11,000
ohnson Industries purchased a metal-working lathe for $32,000. This item will be used for business 90% of the time. Accountants elected to take a $11,000 section 179 deduction and utilize the special depreciation allowance of 50%.
Prepare a depreciation schedule (in $) using MACRS.
Round all dollar amounts to the nearest cent.
End of Year | Basis for Depreciation | Recovery Percent | = | MACRS Depreciation Deduction | Accumulated Depreciation | Book Value | |
---|---|---|---|---|---|---|---|
$ | |||||||
1 | $ | 33.33% | = | $ | $ | $ | |
2 | $ | 44.45% | = | $ | $ | $ | |
3 | $ | 14.81% | = | $ | $ | $ | |
4 | $ | 7.41% | = | $ | $ | $ |
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