Question: Problem 8-7 Modified Accelerated Cost Recovery System (MACRS) (LO 8.2) Calculate the following: Click here to access the various depreciation tables. If required, round your
Problem 8-7 Modified Accelerated Cost Recovery System (MACRS) (LO 8.2) Calculate the following: Click here to access the various depreciation tables. If required, round your final answers to the nearest dollar. If your answer is zero, enter "O". a. The first year of depreciation on a residential rental building that cost $250,000 purchased June 2, 2020. b. The second year (2021) of depreciation on a computer that cost $5,000 purchased in May 2020, using the half-year convention and accelerated depreciation considering any bonus depreciation taken. c. The first year of depreciation on a computer costing $2,800 purchased in May 2020, using the half-year convention and straight-line depreciation with no bonus depreciation. d. The third year of depreciation on business furniture costing $10,000 purchased in March 2018, using the half-year convention and accelerated depreciation but no bonus depreciation
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