You purchased a new piece of farm equipment on October 1, 2021, for $440,000. You determine it has a useful life of 10 years and an expected salvage value of $60,000. Prepare depreciation schedules for the equipment in a spreadsheet using each of the following depreciation methods. Show the depreciation amount and ending book value for 2021 and each year with depreciation thereafter for each method. Remember to use the IRS rules discussed in class for the MACRS-GDS method. Round depreciation amounts to whole dollars. 

• Straight line 

• Double declining balance 

• MACRS-GDS with 200% declining balance method

Answer rating: 100% (QA)

Use a Straight Year 1 Purchoso Pn 4 440000 life lour... View the full answer