P11-6 (similar to)

Question Help

Book valueFind the book value for the asset shown in the accompanying table, assuming that MACRS depreciation is being used:

Asset	Installed cost	Recovery period (years)	Elapsed time since purchase (years)
A	$813,000	5	4

The remaining book value is $___________. (Round to the nearest dollar.)

Rounded Depreciation Percentages by Recovery Year Using MACRS for First Four Property Classes Percentage by recovery ear 5 years 20% 32% 19% 12% 12% 5% 7 years 14% 25% 18% 12% 996 9% 9% 4% 10 years 10% 18% 1496 12% 9% 3% 3 years 29% 45% 15% Recovery year 4 6% 6% 6% 10 100% 100% 100% 100% Totals These percentages have been rounded to the nearest whole percent to simplify calculations while retaining realism. To calculate the actual depreciation for tax purposes, be sure to apply the actual unrounded percentages or directly apply double-declining balance (200%) depreciation using the half-year convention