An asset fitting into the 7-year MACRS category was purchased 2 years ago for $65,000. The...
| An asset fitting into the 7-year MACRS category was purchased 2 years ago for $65,000. The book value of this asset is now (Do not round intermediate calculations.) |
$44,393
$53,993
$34,593
$39,793
Homework Answers
Depreciation Rate for 7-Year MARCS category is 14.29% for first year and 24.49% for second year
Hence, book value today = 100-(14.29+24.49)= 61.22%
Book Value of Asset today = $65,000*61.22%
= $39,793
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