Build an Excel spreadsheet that calculates annual cost recovery and end-ofyear adjusted basis for MACRS 3-, 5-,

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Build an Excel spreadsheet that calculates annual cost recovery and end-ofyear adjusted basis for MACRS 3-, 5-, and 7-year assets. Begin by constructing a table that incorporates the relevant MACRS cost recovery percentages from Exhibit 8.3. Then build a table that links to the MACRS cost recovery table, allowing a user to input three data points: 

(1) Asset cost, 

(2) Year of acquisition, and 

(3) MACRS life. 

Based on these inputs, your spreadsheet should create a schedule that provides annual MACRS cost recovery and end-of-year adjusted basis for that asset. Once completed, e-mail the spreadsheet to your instructor. Your spreadsheet needs to use “IF” functions to create the MACRS cost recovery/adjusted basis schedule.Exhibit 8.3 For Property Placed in Service after December 31, 1986 3-Year 5-Year 7-Year (200% DB) (200% DB)

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Related Book For  answer-question

South Western Federal Taxation 2023 Comprehensive Volume

ISBN: 9780357719688

46th Edition

Authors: Annette Nellen, Andrew D. Cuccia, Mark Persellin, James C. Young

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