The Book value over the years for the asset is as shown; Book value in Year 4 when the selling happens is given as per MACR depreciation
Year | Depreciation percentage of initial Book value | Depreciation amount | Book value |
0 | 169429 | ||
1 | 20% | 33885.80 | 135543.20 |
2 | 32% | 54217.28 | 81325.92 |
3 | 19.20% | 32530.37 | 48795.55 |
4 | 11.52% | 19518.22 | 29277.33 |
5 | 17.28% | 29277.33 | 0.00 |
Question 7 (1 point) Reversing Rapids Co. purchases an asset for $169,429. This asset qualifies as...
Question 6 (1 point) Reversing Rapids Co. purchases an asset for $197,254. This asset qualifies as a five-year recovery asset under MACRS. The five-year expense percentages for years 1, 2, 3, and 4 are 20.00%, 32.00%, 19.20%, and 11.52% respectively. Reversing Rapids has a tax rate of 30%. The asset is sold at the end of year 4 for $14,860. Calculate accumulated depreciation over 4 years. Round the answer to two decimals. Your Answer:
Reversing Rapids Co. purchases an asset for $157,188. This asset qualifies as a five-year recovery asset under MACRS. The five-year expense percentages for years 1, 2, 3, and 4 are 20.00%, 32.00%, 19.20%, and 11.52% respectively. Reversing Rapids has a tax rate of 30%. The asset is sold at the end of year 4 for $10,790. Calculate book value of an asset.
Question 8 (1 point) Reversing Rapids Co. purchases an asset for $100,319. This asset qualifies as a five-year recovery asset under MACRS. The five-year expense percentages for years 1, 2, 3, and 4 are 20.00%, 32.00%, 19.20%, and 11.52% respectively. Reversing Rapids has a tax rate of 30%. The asset is sold at the end of year 4 for $13,219, what is the cash flow from disposal? Calculate gain or loss on disposal. Gain should be entered as a positive...
Question 2 (1 point) Genetic Insights Co. purchases an asset for $11,052. This asset qualifies as a seven- year recovery asset under MACRS. The seven-year fixed depreciation percentages for years 1, 2, 3, 4, 5, and 6 are 14.29%, 24.49%, 17.49%, 12.49%, 8.93%, and 8.93%, respectively. Genetic Insights has a tax rate of 30%. The asset is sold at the end of six years for $3,000. Calculate book value of an asset. Round the answer to two decimals. Your Answer:...
Question 4 (1 point) Genetic Insights Co. purchases an asset for $14,713. This asset qualifies as a seven- year recovery asset under MACRS. The seven-year fixed depreciation percentages for years 1, 2, 3, 4, 5, and 6 are 14.29%, 24.49%, 17.49%, 12.49%, 8.93%, and 8.93%, respectively. Genetic Insights has a tax rate of 30%. The asset is sold at the end of six years for $4,054. Calculate tax paid on gain on disposal. Round the answer to two decimals. Your...
Question 5 (1 point) Genetic Insights Co. purchases an asset for $17,787. This asset qualifies as a seven- year recovery asset under MACRS. The seven-year fixed depreciation percentages for years 1, 2, 3, 4, 5, and 6 are 14.29%, 24.49%, 17.49%, 12.49%, 8.93%, and 8.93%, respectively. Genetic Insights has a tax rate of 30%. The asset is sold at the end of six years for $3,769. Calculate After-Tax Cash Flow at disposal. Round the answer to two decimals. Your Answer:...
Genetic Insights Co. purchases an asset for $19,068. This asset qualifies as a seven-year recovery asset under MACRS. The seven-year fixed depreciation percentages for years 1, 2, 3, 4, 5, and 6 are 14.29%, 24.49%, 17.49%, 12.49%, 8.93%, and 8.93%, respectively. Genetic Insights has a tax rate of 30%. The asset is sold at the end of six years for $4,151. Calculate book value of an asset. Round the answer to two decimals.
Genetic Insights Co. purchases an asset for $14,300. This asset qualifies as a seven-year recovery asset under MACRS. The seven-year fixed depreciation percentages for years 1, 2, 3, 4, 5, and 6 are 14.29%, 24.49%, 17.49%, 12.49%, 8.93%, and 8.93%, respectively. Genetic Insights has a tax rate of 30%. The asset is sold at the end of six years for $4,295. Calculate book value of an asset. Round the answer to two decimals.
Question 3 (1 point) Genetic Insights Co. purchases an asset for $16,817. This asset qualifies as a seven- year recovery asset under MACRS. The seven-year fixed depreciation percentages for years 1, 2, 3, 4, 5, and 6 are 14.29%, 24.49%, 17.49%, 12.49%, 8.93%, and 8.93%, respectively. Genetic Insights has a tax rate of 30%. The asset is sold at the end of six years for $3,255. Calculate gain or loss on disposal. Gain should be entered as a positive number....
Genetic Insights Co. purchases an asset for $19,851. This asset qualifies as a seven-year recovery asset under MACRS. The seven-year fixed depreciation percentages for years 1, 2, 3, 4, 5, and 6 are 14.29%, 24.49%, 17.49%, 12.49%, 8.93%, and 8.93%, respectively. Genetic Insights has a tax rate of 30%. The asset is sold at the end of six years for $4,048. Calculate book value of an asset.