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The answers to this question are below. How were these answers obtained. Can someone please explain. ****DO NOT USE EXCEL PLEASE!!*** A 11- A numerically
The answers to this question are below. How were these answers obtained. Can someone please explain. ****DO NOT USE EXCEL PLEASE!!***
A 11- A numerically controlled milling machine was purchased for $95,000. The estimated salvage value was $15,000 after 15 years. What is the machine's book value after 5 years of depreciation? If the machine is sold for $20,000 early in 50 Year 7, how much gain on sale or recaptured depreciation is there? Assume (a) Straight-line depreciation (b) 150% declining balance depreciation (c) 80% bonus depreciation with the balance using 7-year MACRS depreciation (d) 7-year MACRS depreciation 11-50 a) -$37,677, b) $25,438, c) $73,304, d) $11,524Step by Step Solution
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