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On August 1 , 2 0 2 3 , Elijah purchased manufacturing equipment for use in his business. This is the only asset placed in
On August Elijah purchased manufacturing equipment for use in his business. This is the only asset placed in service this year. The equipment cost $ and has an estimated useful life and MACRS class life of years.
a Calculate the amount of depreciation on the manufacturing equipment for using the accelerated MACRS method and no election to expense or use bonus depreciation is made. Round answer to the nearest dollar.
b Calculate the amount of depreciation on the manufacturing equipment for using the accelerated MACRS method and bonus depreciation used but no election to expense.
c Calculate the amount of depreciation on the manufacturing equipment for using the straightline MACRS optional method and no election to expense or use bonus depreciation is made. Round answer to the nearest dollar.
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