QUESTION 38 5 3 years Use the following tables to answer the question below: Lonestar Corporation purchased a new truck for $45,000. Once the vehicle is taken out of service, they expect for it to be able to be sold for $15,000. What is the depreciable value? Property class (recovery period) Definition Research equipment and certain special tools 5 years Computers, printers, copiers, duplicating equipment, cars, light-duty trucks, qualified technological equipment, and similar assets Office furniture, fixtures, most manufacturing equipment, railroad track, and single-purpose agricultural and horticultural structures Equipment used in petroleum refining or in the manufacture of tobacco products and certain food products 7 years 10 years Remaining time: 2 hours, 31 minutes, 22 seconds. Question Completion Status: Recovery year 3 years 33% 10 years Percentage by recovery year 5 years 7 years 20% 14% 32 25 19 18 10% 2 45 3 18 14 15 4 7 12 12 12 9 5 12 9 6 5 9 8 7 9 8 4 6 9 6 10 6 11 4 Totals 100% 100% 100% 100% "These percentages have been rounded to the nearest whole percent to simplify calculations while retain- ing realism. To calculate the actual depreciation for tax purposes, be sure to apply the actual unrounded percentages or directly apply double-declining balance depreciation using the half-year convention Question Completion Status: 6 5 9 8 7 9 7 8 4 6 9 6 10 6 11 4 Totals 100% 100% 100% 100% "These percentages have been rounded to the nearest whole percent to simplify calculations while retain- ing realism. To calculate the actual depreciation for tax purposes, be sure to apply the actual unrounded percentages or directly apply double-declining balance depreciation using the half-year convention. 45,000 O 15,000 0 30,000 O 60,000