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Holly Jolly Inc. purchased the following three assets this year. They were purchased and put into service according to the table below. What is Holly
Holly Jolly Inc. purchased the following three assets this year. They were purchased and put into service according to the table below. What is Holly Jolly Inc. tax depreciation expense for year 1 and year 2? Office furniture, delivery truck (reindeer sleigh), and word drill press (toy maker) Purchase & Asset Placed in Quarter Original Rate for year 1 DepreciationYear 1 Rate year 2 Basis Depreciation Year 2 Service Date Office Feb. 6 st $20,000 Equipment Delivery truck (5 yr) Nov. 7 3rd 25.000 Machinery yr) Dec. 6 4th 610,000
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