Question
The corporatio uses MACRS depreciation for tax purposes. The corporation purchased all of its equipment on July 1 2014. Corporation took the maximum amount of
The corporatio uses MACRS depreciation for tax purposes. The corporation purchased all of its equipment on July 1 2014. Corporation took the maximum amount of Section 179 depreciation (no bonus depreciation). The equipment is all 7 year property.
Cost of the equipment $930,000
What is the amount of depreciation for the tax year 2016?
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Fundamental financial accounting concepts
Authors: Thomas P. Edmonds, Frances M. Mcnair, Philip R. Olds, Edward
8th edition
978-007802536, 9780077648831, 0078025362, 77648838, 978-0078025365
