7. Data, Inc., purchased and placed in service a $5,000 computer on August 24, year 3. This...

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7. Data, Inc., purchased and placed in service a $5,000 computer on August 24, year 3.

This is the only asset purchase during the year. Code § 179 expensing and bonus depreciation were not elected. Using the excerpt of the MACRS half-year convention table below, what is the MACRS depreciation in year 3 for the computer?

Recovery Period 5-Year 7-Year 10-Year 1 20% 14.29% 10%

2 32% 24.49% 18%

3 19.2% 17.49% 14.4%

a. $500

b. $715

c. $960

d. $1,000

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Essentials Of Taxation Individuals And Business Entities

ISBN: 233160

1st Edition

Authors: Nellen/Young/Raabe/Maloney

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Question Posted: Jul 18, 2024 07:06 AM

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7. Data, Inc., purchased and placed in service a $5,000 computer on August 24, year 3. This...

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Essentials Of Taxation Individuals And Business Entities

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