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bearhunter [10]
3 years ago
11

A large profitable corporation purchased a small jet plane for use by the firm's engineers. The plane cost $1,600,000. Use Table

s 11-2 and 11-3 in the text or slides. Compute the depreciation for year 2 using MACRS.
Business
1 answer:
algol [13]3 years ago
6 0

Answer:

depreciation expense for year 2 = $512,000

Explanation:

The IRS allows qualifying aircraft that is used solely for private use to depreciate on a 5 year period. Depreciation rate for year 2 is 32%, so total depreciation expense during year 2 = $1,600,000 x 32% = $512,000

Other ways of depreciating aircraft used for private purposes is bonus depreciation, and straight line depreciation under the alternative depreciation system. Bonus depreciation increases depreciation expense during year 1 which is better for tax purposes, but not all companies choose it. If straight line depreciation is used, the depreciation period is 6 years.

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work only if other countries do not retaliate with their own trade barriers.

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Your aunt is thinking about opening a hardware store. She estimates that it would cost $500,000 per year to rent the location an
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Explanation:

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Given the organization of the primary somatosensory cortex, why does a slap in the face hurt more than a slap on the back
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As a new employee in the​ organization, you are asked to produce a report on customer service issues. Which of the following mig
MakcuM [25]

Answer:

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