Jobe Concrete Products placed a new sand sifter into production 3 years ago. It had an installed
Question:
Jobe Concrete Products placed a new sand sifter into production 3 years ago. It had an installed cost of $100,000, a life of 5 years, and an anticipated salvage of $20,000. Book depreciation charges for the 3 years are $40,000, $24,000, and $14,000, respectively.
(a) Determine the book value after 2 years.
(b) If the sifter’s market value today is $20,000, determine the difference between its current book value and its market value.
(c) Determine the total percentage of the unadjusted basis written off through year 3.
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a BV 2 100000 40000 24000 36000 b BV 3 100...View the full answer
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