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ch4aika [34]
2 years ago
6

McCanless Co. recently purchased an asset for $2,550,000 that will be used in a 3-year project. The asset is in the 3-year MACRS

class. The depreciation percentage each year is 33.33 percent, 44.45 percent, 14.81 percent, and 7.41 percent, respectively. What is the amount of depreciation in Year 2
Business
1 answer:
Dima020 [189]2 years ago
8 0

Answer:

the depreciation expense in year 2 is $1,133,475

Explanation:

The computation of the depreciation expense in year 2 is given below:

depreciation in Year 2 is

= Asset amount × Depreciation percentage in year 2

= $2,550,000 × 44.45%

= $1,133,475

Hence, the depreciation expense in year 2 is $1,133,475

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The preparation of the University Athletic Pharaoh Club's Income Statement in the contribution margin format is as follows:

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