A company purchased an asset for $2,900,000 that will be used in a 3-year project. The asset is in the 3-year MACRS class. The depreciation percentage each year is 33.33 percent, 44.45 percent, and 14.81 percent, respectively. What is the book value of the equipment at the end of the project

$214,890

Explanation:

From the question, we are informed that a company purchased an asset for $2,900,000 that will be used in a 3-year project. The asset is in the 3-year MACRS class and the depreciation percentage each year is 33.33 percent, 44.45 percent, and 14.81 percent, respectively.

The book value of the equipment at the end of the project will be the accumulated depreciation deducted from the purchase price. This will be:

= $2,900,000 - [1 - (33.33% + 44.45% + 14.81%)]

= $2,900,000 - [1 - (0.3333 + 0.4445 + 0.1481)]

= $2,900,000 - (1 - 0.9259)

= $2,900,000 - 0.0741

= $214,890.

idk

explanation:

bc why nah