Find the depreciation each year for a tractor that was purchased for $18,000 and placed in service midyear under the MACRS method of depreciation as a 3-year property. Click the icon to view a table of MACRS rates. The year 1 depreciation is $ (Round to the nearest cent as needed.) MACRS Table Year 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 3-Year 33.33% 44.45 14.81 7.41 Depreciation rate for recovery perioa 5-Year 7-Year 10-Year 15-Year 20.00% 14.29% 10.00% 5.00% 32.00 19.20 11.52 11.52 5.76 24.49 17.49 12.49 8.93 8.92 8.93 4.46 18.00 14.40 11.52 9.22 7.37 6.55 6.55 6.56 6.55 3.28 9.50 8.55 7.70 6.93 6.23 5.90 5.90 5.91 5.90 5.91 5.90 5.91 5.90 5.91 2.95 20-Year 3.750% 7.219 6.677 6.177 5.713 5.285 4.888 4.522 4.462 4.461 4.462 4.461 4.462 4.461 4.462 4.461 4.462 4.461 4.462 4.461
Find the depreciation each year for a tractor that was purchased for $18,000 and placed in service midyear under the MACRS method of depreciation as a 3-year property. Click the icon to view a table of MACRS rates. The year 1 depreciation is $ (Round to the nearest cent as needed.) MACRS Table Year 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 3-Year 33.33% 44.45 14.81 7.41 Depreciation rate for recovery perioa 5-Year 7-Year 10-Year 15-Year 20.00% 14.29% 10.00% 5.00% 32.00 19.20 11.52 11.52 5.76 24.49 17.49 12.49 8.93 8.92 8.93 4.46 18.00 14.40 11.52 9.22 7.37 6.55 6.55 6.56 6.55 3.28 9.50 8.55 7.70 6.93 6.23 5.90 5.90 5.91 5.90 5.91 5.90 5.91 5.90 5.91 2.95 20-Year 3.750% 7.219 6.677 6.177 5.713 5.285 4.888 4.522 4.462 4.461 4.462 4.461 4.462 4.461 4.462 4.461 4.462 4.461 4.462 4.461
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question

Transcribed Image Text:Find the depreciation for the third year using MACRS cost-recovery rates for the property placed in service at midyear. The property is a 3-year property and was purchased for $98,452.
Click the icon to view a table of MACRS rates.
X
The depreciation is $. (Round to the nearest cent as needed.)
MACRS Table
Year
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
3-Year
33.33%
44.45
14.81
7.41
Depreciation rate for recovery perioa
5-Year 7-Year 10-Year 15-Year
20.00%
10.00% 5.00%
14.29%
32.00
19.20
11.52
11.52
5.76
24.49
17.49
12.49
8.93
8.92
8.93
4.46
18.00
14.40
11.52
9.22
7.37
6.55
6.55
6.56
6.55
3.28
9.50
8.55
7.70
6.93
6.23
5.90
5.90
5.91
5.90
5.91
5.90
5.91
5.90
5.91
2.95
20-Year
3.750%
7.219
6.677
6.177
5.713
5.285
4.888
4.522
4.462
4.461
4.462
4.461
4.462
4.461
4.462
4.461
4.462
4.461
4.462
4.461

Transcribed Image Text:Find the depreciation each year for a tractor that was purchased for $18,000 and placed in service midyear under the MACRS method of depreciation as a 3-year property.
Click the icon to view a table of MACRS rates.
The year 1 depreciation is $. (Round to the nearest cent as needed.)
MACRS Table
Year
1
2
3
4
5
CHOOSING TOTOO
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
3-Year
33.33%
44.45
14.81
7.41
Depreciation rate for recovery perioa
5-Year 7-Year 10-Year 15-Year
20.00% 14.29% 10.00% 5.00%
32.00
19.20
11.52
11.52
5.76
24.49
17.49
12.49
8.93
8.92
8.93
4.46
18.00
14.40
11.52
9.22
7.37
6.55
6.55
6.56
6.55
3.28
9.50
8.55
7.70
6.93
6.23
5.90
5.90
5.91
5.90
5.91
5.90
5.91
5.90
5.91
2.95
20-Year
3.750%
7.219
6.677
6.177
5.713
5.285
4.888
4.522
4.462
4.461
4.462
4.461
4.462
4.461
4.462
4.461
4.462
4.461
4.462
4.461
I
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