Question: please solve this correctly A global positioning system (GPS) receiver is purchased for $3,000. The IRS informs your company that the useful (class) life of
please solve this correctly A global positioning system (GPS) receiver is purchased for $3,000. The IRS informs your company that the useful (class) life of the system is seven years. The expected market (salvage) value is $200 at the end of year seven. a. Use the straight line method to calculate depreciation in year three b. Use the 200% declining balance method to calculate the cumulative depreciation through year four. c. Use the MACRS method to calculate the cumulative depreciation through year five. d. What is the book value of the GPS receiver at the end of year four when straight line depreciasion is used? Click the ioon to view the summary of the principal features of GDS under MACRS ) Click the icon to view the GDS Recovery Rates (A a. Using the SL method, the depreciation amount in year three is s(Round to the nearest doliar.) b Using the 200% DB method, the the cumulative depreciation through year four is$ Round to the nearest dollar.) c. Using the MACRS method, the cumulative depreciation through year f e is S Round to the nearest dollar. d. The book value of the GPS receiver at the end of year four when straight line depreciation is used is S(Round to the nearest dolar)
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