Stone Age Concrete, Inc. purchased cement manufacturing equipment valued at $344,000 on March 14, 2001. The equipment is used for business 100% of the time. As the accountant, you have elected to take the maximum section 179 deduction.

Stone Age Concrete, Inc. purchased cement manufacturing equipment valued at $344,000 on March 14, 2001. The equipment is used for business 100% of the time. As their accountant, you have elected to take the maximum section 179 deduction a. What is the basis for depreciation for this equipment? b. Prepare a depreciation schedule for the first 5 years of operation of this equipment by using MACRS. Stone Age Concrete, Inc. MACRS Depreciation Schedule Cement Manufacturing Equipment Origina Cost Recovery Cost Recovery Accumulated Book End of Year Basis (cost) Percentage depreciation) Depreciation Value