Answered step by step
Verified Expert Solution
Question
1 Approved Answer
please provide a correct answer! In year 0, an electrical appliance company purchased an industrial robot costing $350,000. The robot is to be used for
please provide a correct answer!
In year 0, an electrical appliance company purchased an industrial robot costing $350,000. The robot is to be used for welding operations, classified as seven-year recovery property, and has been depreciated by the MACRS method. If the robot is to be sold after five years, compute the amounts of gains (losses) for the following two salvage values (assume that both capital gains and ordinary incomes are taxed at 21%): (a) $20,000 (b) $99,000 Note: use negative sign for gain losses 3 Click the icon to view the MACRS depreciation schedules. (a) If the robot is to be sold after five years and its salvage value is $20,000, the amount of gains (losses) is $ (Round to the nearest dollar.) (b) If the robot is to be sold after five years and its salvage value is $99,000, the amount of gains (losses) is $ . (Round to the nearest dollar.) 3 5 7 10 15 20 Class Depreciation rate Year n 200% 200% 200% 200% 150% 150% 150% 1 33.33 44.45 20.00 32.00 14.29 24.49 10.00 18.00 2 5.00 9.50 8.55 3.750 7.219 6.677 3 14.81 19.20 17.49 14.40 4 7.41 11.52* 12.49 11.52 7.70 6.177 5 11.52 8.93 9.22 6.93 5.713 6 5.76 8.92 6.23 5.285 4.888 7 7.37 6.55 6.55 8.93 5.90 5.90 8 4.46 9 6.56 5.91 10 6.55 3.28 5.90 5.91 11 12 5.90 5.91 13 4.522 4.462 4.461 4.462 4.461 4.462 4.461 4,462 4.461 4.462 4.461 5.90 14 15 5.91 16 2.95 17 18 19 4.462 4.461 20 21 2,231Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started