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Crank
3 years ago
14

On June 1, 2019, Irene places in service a new automobile that cost $21,000. The car is used 70% for business and 30% for person

al use. (Assume this percentage is maintained for the life of the car.) She does not take additional first-year depreciation. Determine the cost recovery deduction for 2020. a.$4,704 b.$3,570 c.$10,100 d.$3,290
Business
1 answer:
worty [1.4K]3 years ago
4 0

Answer:

a.$4,704

Explanation:

Depreciation rate applicable for 2nd year as per MACRS 5 year class property = 32%

So, Irene cost recovery deduction = $21,000 * 32% * 70% = $4,704

Hence, the cost recovery deduction for Irene in 2020 is $4,704.

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Rocky River Company is a pricetaker and uses target pricing. Refer to the following information:Production volume 602,000​ units
ladessa [460]

Answer:

$30.07

Explanation:

Rocky river company uses target pricing

The production volume is 602,000 units

The market price is $34 per unit

The total assets is $13,900,000

The desired operating income is 17% of the total assets

= 17/100 × 13,900,000

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= 18,105,000

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= Total cost/production volume

= 18,105,000/602,000

= $30.07

Hence the full target product cost per unit is $30.07

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3 years ago
Suppose 90-day investments in Britain have a 6% annualized return and a 1.5% quarterly (90-day) return. In the U.S., 90-day inve
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3 years ago
Which of the following is not a broad, cost classification category typically used in activity-based costing? Batch-level. Facil
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What needs to be determined when estimating cash flows for a potential new project?.
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