A company purchases a boat in 2017 for $300,000. The company also paid $13,000 for delivery before it was serviced on May 5th, 2017. Assume it had accelerated depreciation. What is the depreciable life & basis of in terms of dollars?

For 2017, assume the revenue was $3,000,000, and operating costed $1,200,000. (no depreciation/capital), what is the taxable income for the year?

For 2019, the revenue was $4,000,000, and operating costed $1,700,000 with a $75,000 depreciation. What is the net cash flow for 2018. Use a 2016 corporate tax schedule.

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Lets assume straightline depreciation for the boat over 5 years ... View the full answer