AP constructed a new manufacturing plant for a total cost of $9,465,000 and placed it in service on March 2. To finance the construction, AP took out a $6 million, 30-year mortgage on the property. Compute AP's MACRS depreciation for the manufacturing plant for the first, second, and third years of operation. Use Table 7-4. Note: Enter your answers in dollars and not in millions of dollars. Round your answers to the nearest whole dollar amount. Year 1 Year 2 Year 31 MACRS Depreciation

AP constructed a new manufacturing plant for a total cost of $9,465,000 and placed it in service on March 2. To finance the construction, AP took out a $6 million, 30-year mortgage on the property. Compute AP's MACRS depreciation for the manufacturing plant for the first, second, and third years of operation. Use Table 7-4. Note: Enter your answers in dollars and not in millions of dollars. Round your answers to the nearest whole dollar amount. Year 1 Year 2 Year 31 MACRS Depreciation

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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