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Shimeil Inc. purchased computer equipment on March 1,2025, for $31,000. The computer equipment has a useful life of 10 years and a salvage value of

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Shimeil Inc. purchased computer equipment on March 1,2025, for $31,000. The computer equipment has a useful life of 10 years and a salvage value of $1,000. For taxpurposes, the MACRS class life is 5 years. (a) Your answer is correct. Assuming that the company uses the straight-line method for book and tax purposes, what is the depreciation expense reported in (1) the financial statements for 2025 and (2) the tax return for 2025? (Do not round intermediate calculations. Round final answers to Odecimal places, es. 5, 125.) (1) Depreciation expense reported in the financial statements for 2025$ (2) Depreciation expense the tax return for 2025 Your answer is partially correct. Assuming that the company uses the double-declining-balance method for both book and tax purposes, what is the depreciation expense reported in (1) the financial statements for 2025 and (2) the tax return for 2025 ? (Do not round intermediate calculations. Round final answers to 0 decimal places, eg. 5,125.) (1) Depreciation expense reported in the financial statements for 2025 12 Depreciation expense the tax return for 2025 $

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