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Lee's Furniture just purchased $24,000 of fixed assets that are classified as 5-year MACRS property. The...

Lee's Furniture just purchased $24,000 of fixed assets that are classified as 5-year MACRS property. The MACRS rates are 20 percent, 32 percent, 19.2 percent, 11.52 percent, 11.52 percent, and 5.76 percent for Years 1 to 6, respectively. What is the amount of the depreciation expense for the third year if the firm applies the new bonus method of depreciation? $2,304, $2,507, $4,608, $0, $4,800

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Answer #1

Correct answer is option : 0

As firm has opted bonus depreciation no further depreciation will be allowed..

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