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Solve for the missing items, assuming straight-line depreciation is used: Machine A Machine B Machine C Cost $170,000 $80,000 I Residual value $10,000 E $20,000
Solve for the missing items, assuming straight-line depreciation is used:
| Machine A | Machine B | Machine C | |
| Cost | $170,000 | $80,000 | I |
| Residual value | $10,000 | E | $20,000 |
| Useful life (years) | 25 | F | 20 |
| Depreciation rate | A | 25.0% | J |
| Annual depreciation amount | B | $10,000 | $13,000 |
| Number of years owned | 14 | 2.5 | K |
| Accumulated depreciation at disposal date | C | G | L |
| Proceeds of disposal | $95,000 | H | $220,000 |
| Gain (loss) on disposal | D | $5,000 | $18,000 |
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
