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please show the solution clearly questions 3 3. A capital asset was purchased at $90,000 and will be depreciated as a 5-year asset according the
please show the solution clearly questions 3
3. A capital asset was purchased at $90,000 and will be depreciated as a 5-year asset according the MACRS framework. The applicable salvage values would be $42,000 in year 3, $30,000 in year 5, and $6,000 in year 6. Click the icon to view the MACRS depreciation schedules. (Round to the nearest (a) The taxable gain or loss amount when the asset is disposed of in Year 3 is $ dollar.) (Round to the nearest (b) The taxable gain or loss amount when the asset is disposed of in Year 5 is $ dollar.) (Round to the nearest (c) The taxable gain or loss amount when the asset is disposed of in Year 6 is $ dollar.) 4: More Info Class 3 5 7 10 15 20 Year n Depreciation rate 200% 200% 200% 200% 150% 150% 1 14.29 10.00 5.00 33.33 44.45 20.00 32.00 19.20 3.750 7.219 2 24.49 9.50 18.00 14.40 3 14.81 17.49 8.55 6.677 4 7.41 11.52 12.49 11.52 7.70 6.177 5 11.52 8.93 9.22 6.93 5.713 5.285 6 5.76 8.92 7.37 6.23 7 8.93 4.888 6.55 6.55 5.90 5.90 8 4.46 4.522 9 6.56 5.91 10 6.55 3.28 5.90 5.91 11 4.462 4.461 4.462 4.461 4.462 4.461 12 5.90 13 5.91 14 5.90 15 4.462 5.91 2.95 16 4.461 4.462 17 18 4.461 4.462 19 20 4.461 21 2.231 Year to switch from declining balance to straight lineStep by Step Solution
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