A 5-year property costing $290,000 is placed in service at midyear in 2016. The property is depreciated using MACRS Prepare a depreciation schedule for the property Click the icon to view a table of MACRS rates Complete the following table. Enter the MACRS rate as a decimal and depreciation, accumulated depreciation, and end-of-year book value rounded to the nearest cent MACRS Rate Annual Depreciation S Accumulated Depreciation % Year 1 SITE End-of-year book value $ MACRS Table Year 2 4 3-Year 33.33% 44.45 14.81 4 Depreciation rate for recovery period 5 Year 7-Year 10-Year 15 Year 14.29% 10.00% 5.00% 20.00% 32.00 19.20 11.52 11.52 24.49 17.49 12:49 893 18.00 14.40 11:52 922 9.50 8.55 7.70 693 20 Year 3.750% 7219 6.677 6.177 5213
A 5-year property costing $290,000 is placed in service at midyear in 2016. The property is depreciated using MACRS Prepare a depreciation schedule for the property Click the icon to view a table of MACRS rates Complete the following table. Enter the MACRS rate as a decimal and depreciation, accumulated depreciation, and end-of-year book value rounded to the nearest cent MACRS Rate Annual Depreciation S Accumulated Depreciation % Year 1 SITE End-of-year book value $ MACRS Table Year 2 4 3-Year 33.33% 44.45 14.81 4 Depreciation rate for recovery period 5 Year 7-Year 10-Year 15 Year 14.29% 10.00% 5.00% 20.00% 32.00 19.20 11.52 11.52 24.49 17.49 12:49 893 18.00 14.40 11:52 922 9.50 8.55 7.70 693 20 Year 3.750% 7219 6.677 6.177 5213
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:A 5-year property costing $290,000 is placed in service at midyear in 2016. The property is depreciated using MACRS Prepare a depreciation schedule for the property
Click the icon to view a table of MACRS rates.
Complete the following table. Enter the MACRS rate as a decimal and depreciation, accumulated depreciation, and end-of-year book value rounded to the nearest cent
Annual
Depreciation
Accumulated
Depreciation
MACRS
Year Rate
1
Example Get more help-
End-of-year
book value
MACRS Table
Year 3-Year
1
33.33%
2
3
4
5
6
7
8
9
10.
11
12
13
14
15
44.45
14.81
7.41
Depreciation rate for recovery period
5 Year 7-Year
20.00%
14.29%
24.49
32.00
19.20
17.49
11.52
12.49
11.52
576
8.93
6.92
8.93
4.46
10-Year 15 Year
10.00% 5.00%
18.00
14.40
11.52
9.22
6.93
737 6.23
5.90
6.55
6.55
6.56
6.55
3.28
9.50
8.55
7.70
5.90
5.91
5.90
591
5.90
591
5.90
591
20 Year
3.750%
7219
6.677
6.177
5713
5.285
4.888
4.522
4.462
4.461
4 462
4461
4.462
4461
4462
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