Data, Inc., purchased and placed in service $5,000 of office furniture on August 24, year 3. This is the only asset purchase during the year. Code § 179 expensing and bonus depreciation were not elected. Using the excerpt of the MACRS half-year convention table below, what is the MACRS depreciation in year 3 for the office furniture? Recovery Period 5-Year 7-Year 10-Year 1 20% 14.29% 10% 2 32% 24.49% 18% 3 19.2% 17.49% 14.4% If required, round your answer to the nearest dollar.
Data, Inc., purchased and placed in service $5,000 of office furniture on August 24, year 3. This is the only asset purchase during the year. Code § 179 expensing and bonus depreciation were not elected. Using the excerpt of the MACRS half-year convention table below, what is the MACRS depreciation in year 3 for the office furniture? Recovery Period 5-Year 7-Year 10-Year 1 20% 14.29% 10% 2 32% 24.49% 18% 3 19.2% 17.49% 14.4% If required, round your answer to the nearest dollar.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Data, Inc., purchased and placed in service $5,000 of office furniture on August 24, year 3. This is the only asset purchase during the year. Code § 179 expensing and bonus
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If required, round your answer to the nearest dollar.
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