Question
Polaris Chemicals purchased some fixed assets four years ago at a cost of $805,000. It no longer needs these assets, so it is going to
Polaris Chemicals purchased some fixed assets four years ago at a cost of $805,000. It no longer needs these assets, so it is going to sell them today at a price of $159,500. The assets are classified as 5-year property for MACRS. The MACRS table values .2000, .3200, .1920, .1152, .1152, and .0576 for Years 1 to 6, respectively. What is the current book value of these assets?
| $139,104 | ||
| $143,410 | ||
| $126,218 | ||
| $152,676 | ||
| $115,738 |
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Financial Accounting An Integrated Statements Approach
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
2nd Edition
324312113, 978-0324312119
