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Sharpe Machining Company purchased industrial tools costing $160,000, which fall in the 3-year property class under MACRS. Use Appendix A and Exhibit 16-9 for your
Sharpe Machining Company purchased industrial tools costing $160,000, which fall in the 3-year property class under MACRS. Use Appendix A and Exhibit 16-9 for your reference. (Use appropriate factor(s) from the tables provided.)
The firm uses the optional straight-line depreciation method and the half-year convention.
Year Straight-Line Depreciation 1 1 2 $ 53,328 3 $ 53,328 4Step by Step Solution
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