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Irina-Kira [14]
2 years ago
9

Beth's business purchased only one asset during the current year (a full 12-month tax year). Beth placed in service machinery (7

-year property) on December 1 with a basis of $50,000. Calculate the maximum depreciation expense (ignoring §179 and bonus depreciation).

Business
1 answer:
nalin [4]2 years ago
4 0

Answer:

the depreciation expense on the equipment will be 1,785 for tax purpose.

Explanation:

We will look into the MACRS (Modified Accelerated Cost Recovery System)

table for a property of seven years placen into service in the 4th quarter:

Which give us 3.57%

now we multiply the basis by the coefficient and get the value for depreciation

50,000 x 3.57% = 1,785 depreciation expense under MACRS

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Annual growth rate of population is 16.3%
monthly growth rate = ?
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1.01266 - 1 = 0.01266 = 0.01266 x 100 = 1.266%≈ 1.3%

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