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 |
Step 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
Financial Reporting Financial Statement Analysis And Valuation
Authors: James M Wahlen, Stephen P Baginskl, Mark T Bradshaw
10th Edition
0357722094, 978-0357722091
