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Two years ago, on March 1 , 2 0 2 0 Mark bought a new tractor. Mark traded his old tractor which had a remaining
Two years ago, on March Mark bought a new tractor. Mark traded his old tractor which had a remaining book value of Mark paid $ 'down" and financed the remaining $ over years at interest. He elected to roll the remaining basis of his old tractor into the new one.
If Mark did not claim an expense deduction and used the midquarter convention and straight line depreciation over the alternate MACRS life, his depreciation will be:
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