A farm tractor costing $80,000 is depreciated using the MACRS method. The tractor qualifies as a 3-year
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Question:
A farm tractor costing $80,000 is depreciated using the MACRS method.
The tractor qualifies as a 3-year property, has a scrap value of $20,000 and is depreciated at the following rates:
| Year 1 | 33.33% |
| Year 2 | 44.45% |
| Year 3 | 14.81% |
| Year 4 | 7.41% |
The amount of depreciation to be entered for the second year would be _____.
Expert Answer:
Related Book For 
Intermediate Accounting Reporting and Analysis
ISBN: 978-1285453828
2nd edition
Authors: James M. Wahlen, Jefferson P. Jones, Donald Pagach
Posted Date:
