Business, 14.07.2020 20:01 karlaperez482
During its current tax year (year one), a pharmaceutical company purchased a mixing tank that had a fair market price of $120 comma 000120,000. It replaced an older, smaller mixing tank that had a BV of $15,000. Because a special promotion was underway, the old tank was used as a trade-in for the new one, and the cash price (including delivery and installation) was set at $99,500. The MACRS class life for the new mixing tank is 9.5 years. (7.4, 7.3).
Required:
a. Under the GDS, what is the depreciation deduction in year three?
b. Under the GDS, what is the BV at the end of year four?
c. If 200% DB depreciation had been applied to this problem, what would be the cumulative depreciation through the end of year four?
Answers: 3
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During its current tax year (year one), a pharmaceutical company purchased a mixing tank that had a...
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