Joe purchased a van on February 1, 2016, for use in his business, Crew Airport Transport. The
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Joe purchased a van on February 1, 2016, for use in his business, Crew Airport Transport. The van was purchased for $30,000, has an estimated useful life of 10 years, and has a salvage value of $2,000. No other assets were put into service that year. What is Joe’s MACRS depreciation for the van in 2016?
a. $2,567
b. $6,000
c. $10,500
d. $10,267
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The van is a 5year asset for MACRS depreciation purposes The MA...View the full answer
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Related Book For 
South Western Federal Taxation 2017 Comprehensive
ISBN: 9781305874169
40th Edition
Authors: William H. Hoffman, David M. Maloney, William A. Raabe, James C. Young
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