Show all work: Based on the schedule below, what is the accumulated depreciation after 3 years for an item with an initi...
Show all work: Based on the schedule below, what is the accumulated depreciation after 3 years for an item with an initial depreciable cost of $250,000?
Year-------- Rate
1------------20.00%
2------------ 32.00%
3------------ 19.20%
4-------------11.52%
5 -------------11.52%
6------------- 5.76%
Homework Answers
Ans $ 178,000
Accumulated Depreciation after 3 years = Depreciable cost * Depreciation rate of 3 years
= 250000 * ( 20.00% + 32.00% + 19.20%)
= $ 178,000
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Show all work: Based on the schedule below, what is the accumulated depreciation after 3 years for an item with an initi...
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You own some equipment that you purchased 3 years ago at a cost of $350,000. The equipment is 5-year property for MACRS. You are considering selling the equipment today for $123,000. Which one of the following statements is correct if your tax rate is (40%? initial : 350,000 MACRS 5-year property Year Rate 20.00% 32.00% 19.20% 11.52% 11.52% 5.76% 0 straight line 350,000 - 123,000 w @ a. The tax due on the sale is $26,425 b. The...
THIS IS BASED ON 5 YEAR DEPRECIATION.
2. In plain English, explain how depreciation was calculated for
years 1-3.
3)In plain English, explain how depreciation was calculating for
years 4-6
Table A-1. 3-, 5-, 7-, 10-, 15-, and 20-Year Property Half-Year Convention Depreciation rate for recovery period Year 3-year 5-year 7-year 10-year 15-year 20-year 33.33% 44.45 14.81 7.41 20.00% 32.00 19.20 14.29% 24.49 17.49 12.49 8.93 10.00% 18.00 14.40 11.52 9.22 5.00% 9.50 8.55 7.70 6.93 3.750% 7.219 6.677 6.177...
How did they get these numbers?
Fairways Driving Range Step 3: Depreciation: Depreciation of $18,000 of 5-year equipment using ACRS Year ACRS% 20.00 32.00 19.20 Depreciation 3600 5760 3486 2073.6 | 2073.6 1036. 8 (18,000) Book Value 14,406 8,640 5184 3110.4 I 1836.8 0 11.52 5 11.52 5.76 Total
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years 1-3, for the 5-year column
3. In plain English, explain how depreciation was calculating
for years 4-6 (Hint: See MACRS4 solution, end-of-year basis for
year 3; divide by 5, but you must explain why you divided by
5).
Depreciation rate for recovery period Year 3-year 10-year 20-year 5-year 7-year 15-year 20.00% 14.29% 10.00% 5.00% 3.750% 33.33% 24.49 18.00 9.50 7.219 44.45 32.00 14.81 19.20 17.49 14.40 8.55 6.677 3 4...
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