1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
dlinn [17]
3 years ago
9

In August 2016, Richard purchased and placed in service an office building costing $753,000, including $134,000 for the land. Th

e amount of depreciation Richard may claim in 2016 is
I have been trying to figure out the answer but have not been successful. I have looked at different depreciation charts and tempted to figure it out per year. Could you please assist? I will be forever grateful. If possible can you tell me how figure out the answer?
Mathematics
1 answer:
Sonbull [250]3 years ago
5 0
There is no depreciation schedule provided along with your question.

Assuming that the question makes us of the <span>Modified Accelerated Cost Recovery System (MACRS), which provides that </span>the useful life for non-residential real property is 39 years. Depreciation is straight line using the mid-month convention.

The mid-month convention means that the month of acquisition is calculated as half month irrespective of the date of acquisition.

Given that <span>Richard purchased and placed in service an office building costing $753,000, including $134,000 for the land in August 2016, the depreciable part is only the building, hence the depreciable cost is given by:

$753,000 - $134,000 = $619,000
</span>
<span><span>The depreciation charge for each year of the estimated life of the building is given by:

$619,000 / 39 = $15,871.79

</span>The depreciable period in 2016 is 4.5 months (i.e. September, October, November and December with August treated as half month).

</span>Therefore, the <span>amount of depreciation Richard may claim in 2016 is</span> given by:

(4.5 / 12) x $15,871.79 = $5,951.92.
You might be interested in
Is 3(-4y) equivalent to 6-4y
Leokris [45]

3(-4y)=6-4y

-12y=6-4y

-8y=6

y=-3/4

So the two expressions are equivalent, if and only if y = -3/4.

5 0
2 years ago
Can someone help me one these two​
strojnjashka [21]

On the top problem:  Angle A and Angle B are a right angle so it equals 90 degrees.  If Angle B is 50 degrees that makes Angle A 40 degrees.  Angle A and Angle C is a straight line and equals 180 degrees so if Angle A equals 40 degrees that means Angle C equals 140 degrees.

8 0
3 years ago
Help please I really really need this is my last question help hurry
den301095 [7]
1/6 is the answer. Good luck!
4 0
3 years ago
How long will it take the United States to travel 1 kilometer
Svetradugi [14.3K]
It would take (100 km/hr)= 0.01 hr or 36 seconds.
3 0
2 years ago
Does there appear to be a proportional relationship between the radius and circumference of a circle? Explain or show your reaso
elena-14-01-66 [18.8K]

Answer:

thx

Step-by-step explanation:

3 0
3 years ago
Other questions:
  • Given that f(x)=3x+1 and g(x)=4x+2/4, solve for g(f(0))
    10·1 answer
  • A robot can complete 5 tasks in 3 hour. Each task takes the same amount of time.
    15·1 answer
  • A bag of chips costs $3.79 including tax. Mr. Connor wants to purchase chips for his class and has a $15 budget. Write an inequa
    9·2 answers
  • A batch of 50 parts contains six defects. If two parts are drawn randomly one at a time without replacement, what is the probabi
    14·1 answer
  • Is PQR = XYZ? If so, name which similarity postulate or theorem applies.
    8·2 answers
  • the heights, in meters of some of the tallest waterfalls around the world are listed. 979,896,796,900,836,820,948,914,860,840,81
    13·1 answer
  • Based on the diagram to the right,what will happen to the motion of the box?Select two that apply.
    13·1 answer
  • What is the volume, in cubic centimeters, of a cube with an edge length of 15 centimeters?
    5·1 answer
  • 5. Three sides of a triangle have sides of length 6 inches, 8 inches, and 10 inches. One
    5·2 answers
  • Which functions have an additive rate of change of 3? Select two options.
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!