Consider a $60,000 asset with a 3 year useful life. Use the following IRS charts for...

 

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Consider a $60,000 asset with a 3 year useful life. Use the following IRS charts for an asset with a useful life of 3 years (following the half-year convention): Year 1 2 3 4 MACRS -33.33% 44.45% 14.81% 7.41% Straight-Line 16.67% 33.33% 33.33% 16.67% At the end of year 3 (assume this is year 1), what is the accumulated depreciation using MACRS? Straight line depreciation? Consider a $60,000 asset with a 3 year useful life. Use the following IRS charts for an asset with a useful life of 3 years (following the half-year convention): Year 1 2 3 4 MACRS -33.33% 44.45% 14.81% 7.41% Straight-Line 16.67% 33.33% 33.33% 16.67% At the end of year 3 (assume this is year 1), what is the accumulated depreciation using MACRS? Straight line depreciation?

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Calculation of accumulated depreciation We have to calculate the accumulated dep... View the full answer