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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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The correct answer is "startling statement"

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Last month unemployment fell to 4 percent, its lowest level in years. The economy is growing rapidly, but consumer prices have r
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An increase in taxes.

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It is said that kone is embedding intelligence across its supply chain and enables smarter buildings. explain.
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8 0
1 year ago
Another bank is also offering favorable terms, so Rahul decides to take a loan of $14,000 from this bank. He signs the loan cont
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Answer: $14,426.43

Explanation:

At the end of 4 months and assuming a  12 months and 365 days in a year, the formula to be used to calculate how much Rahul owes is;

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2 years ago
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Setler [38]

Answer:

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