A 7 year property class asset was purchased for $115,000. The owner took depreciation charges using MACRS each year. The asset was sold at a market value of $122,200 at the end of the third year. The book value at the end of the third year? i. $70,400 ii. $65,087 iii. $50,290 iv. $43,446 v. $35,900 Please use excel and show formulas.
A 7 year property class asset was purchased for $115,000. The owner took depreciation charges using MACRS each year. The asset was sold at a market value of $122,200 at the end of the third year. The book value at the end of the third year? i. $70,400 ii. $65,087 iii. $50,290 iv. $43,446 v. $35,900 Please use excel and show formulas.
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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A 7 year property class asset was purchased for $115,000. The owner took depreciation charges using MACRS each year. The asset was sold at a market value of $122,200 at the end of the third year. The book value at the end of the third year?
i. $70,400
ii. $65,087
iii. $50,290
iv. $43,446
v. $35,900
Please use excel and show formulas.
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