Question: no excel, quick answer and please make sure it's right, i ran out of my monthly questions and i am paying literally $3 for this

no excel, quick answer and please make sure it's right, i ranout of my monthly questions and i am paying literally $3 forthis one question, make my money worth it An asset for drillingwas purchased and placed in service by a petroleum production company. Itsno excel, quick answer and please make sure it's right, i ran out of my monthly questions and i am paying literally $3 for this one question, make my money worth it

An asset for drilling was purchased and placed in service by a petroleum production company. Its cost basis is $55,000, and it has an estimated MV of $10,000 at the end of an estimated useful life of 14 years. Compute the depreciation amount in the second year and the BV at the end of the third year of life by each of these methods: a. The SL method. b. The 200% DB method with switchover to SL. c. The GDS. d. The ADS. Click the icon to view the partial listing of depreciable assets used in business. Click the icon to view the GDS Recovery Rates (k). a. Using the SL method the depreciation amount in the second year is $ (Round to the nearest dollar.) MACRS Class Lives and Recovery Periods Recov GDS 7 5 5 5 5 Asset Class 00.11 00.12 00.22 00.23 00.241 00.242 00.26 01.1 10.0 13.2 13.3 15.0 22.3 24.4 28.0 30.1 32.2 34.0 Descriptions of Assets Office furniture and equipment Information systems, including computers Automobiles, taxis Buses Light general purpose trucks Heavy general purpose trucks Tractor units for use over the road Agriculture Mining Production of petroleum and natural gas Petroleum refining Construction Manufacture of carpets Manufacture of wood products and furniture Manufacture of chemicals and allied products Manufacture of rubber products Manufacture of cement Manufacture of fabricated metal products Manufacture of electronic components, products, and systems Manufacture of motor vehicles Manufacture of aerospace products Class Life 10 6 3 9 4 6 4 10 10 14 16 6 9 10 9.5 14 Owohon on or on 10 5 5 7 5 7 15 7 20 12 36.0 6 5 37.11 37.2 12 10 7 48.12 49.13 49.21 79.0 Telephone central office equipment Electric utility steam production plant Gas utility distribution facilities Recreation 18 28 35 10 10 20 20 7 5 Year 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 GDS Recovery Rates (rik) for the Six Personal Property Classes Recovery Period (and Property Class) 3-year 5-year 7-year 10-year 15-year 0.3333 0.2000 0.1429 0.1000 0.0500 0.4445 0.3200 0.2449 0.1800 0.0950 0.1481 0.1920 0.1749 0.1440 0.0855 0.0741 0.1152 0.1249 0.1152 0.0770 0.1152 0.0893 0.0922 0.0693 0.0576 0.0892 0.0737 0.0623 0.0893 0.0655 0.0590 0.0446 0.0655 0.0590 0.0656 0.0591 0.0655 0.0590 0.0328 0.0591 0.0590 0.0591 0.0590 0.0591 0.0295 20-year 0.0375 0.0722 0.0668 0.0618 0.0571 0.0528 0.0489 0.0452 0.0447 0.0447 0.0446 0.0446 0.0446 0.0446 0.0446 0.0446 0.0446 0.0446 0.0446 0.0446 0.0223

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