A piece of newly purchased industrial equipment costs $980,000 and is classified as seven-year property under MACRS (MACRS Schedule). Calculate the annual depreciation allowances and end-of-the-year book values for this equipment. Note: Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32. Leave no cells blank_ Enter "0" when necessary. Year Beginning Book Value Depreciation Allowance Ending Book Value 1 $ 980,000 2 839,958 3 634,252 4 523,322 5 457,959 6 417,063 7 379,861 8 ง
A piece of newly purchased industrial equipment costs $980,000 and is classified as seven-year property under MACRS (MACRS Schedule). Calculate the annual depreciation allowances and end-of-the-year book values for this equipment. Note: Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32. Leave no cells blank_ Enter "0" when necessary. Year Beginning Book Value Depreciation Allowance Ending Book Value 1 $ 980,000 2 839,958 3 634,252 4 523,322 5 457,959 6 417,063 7 379,861 8 ง
Chapter11: Long-term Assets
Section: Chapter Questions
Problem 8PA: Referring to PA7 where Kenzie Company purchased a 3-D printer for $450,000, consider how the...
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![A piece of newly purchased industrial equipment costs $980,000 and is classified as seven-year property under MACRS (MACRS
Schedule). Calculate the annual depreciation allowances and end-of-the-year book values for this equipment.
Note: Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32. Leave no cells blank_
Enter "0" when necessary.
Year
Beginning
Book Value
Depreciation
Allowance
Ending Book
Value
1
$ 980,000
2
839,958
3
634,252
4
523,322
5
457,959
6
417,063
7
379,861
8
ง](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F6e0fd0d9-98c6-44b8-a4e6-d1c2cd8d4684%2F8b9390e0-ce4c-4153-8edc-ae6d8a676113%2Furpuenm_processed.png&w=3840&q=75)
Transcribed Image Text:A piece of newly purchased industrial equipment costs $980,000 and is classified as seven-year property under MACRS (MACRS
Schedule). Calculate the annual depreciation allowances and end-of-the-year book values for this equipment.
Note: Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32. Leave no cells blank_
Enter "0" when necessary.
Year
Beginning
Book Value
Depreciation
Allowance
Ending Book
Value
1
$ 980,000
2
839,958
3
634,252
4
523,322
5
457,959
6
417,063
7
379,861
8
ง
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