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an e… Show more A new piece of equipment has a cost basis

Paper help Economics an e… Show more A new piece of equipment has a cost basis

Economics

an e… Show more A new piece of equipment has a cost basis

an e… Show more A new piece of equipment has a cost basis of $86,000, an estimated salvage value of $12,000 and an estimated useful life of five years. For tax purposes the equipment has been classified as 7-year MACRS property. Determine the annual depreciation amount and resulting end-of-the-year Book Value for years 1 %u2013 8. Note: A cash flow diagram is not required. 7-Year MACRS Year MACRS 1 14.29% 2 24.49% 3 17.49% 4 12.49% 5 8.93% 6 8.92% 7 8.93% 8 4.46% • Show less

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