Roth LLC purchased only one asset during the current year. On August 1st Roth placed in service office equipment (seven-year property) with a basis of $56,500. Calculate the maximum depreciation expense (ignoring §179 and bonus depreciation). (Use MACRS Half-Year Convention Table.) (Round final answer to the nearest whole number.)
Roth LLC purchased only one asset during the current year. On August 1st Roth placed in service office equipment (seven-year property) with a basis of $56,500. Calculate the maximum depreciation expense (ignoring §179 and bonus depreciation). (Use MACRS Half-Year Convention Table.) (Round final answer to the nearest whole number.)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Roth LLC purchased only one asset during the current year. On August 1st Roth placed in service office equipment (seven-year property) with a basis of $56,500. Calculate the maximum
Transcribed Image Text:Table 1 MACRS Half-Year Convention
Depreciation Rate for Recovery Period
3-Year
5-Year
7-Year
10-Year
15-Year
20-Year
Year 1
Year 2
Year 3
Year 4
33.33%
20.00%
14.29%
10.00%
5.00%
3.750%
44.45
32.00
24.49
18.00
9.50
7.219
14.81
19.20
17.49
14.40
8.55
6.677
7.41
11.52
12.49
11.52
7.70
6.177
Year 5
11.52
8.93
9.22
6.93
5.713
Year 6
5.76
8.92
7.37
6.23
5.285
Year 7
8.93
6.55
5.90
4.888
Year 8
4.46
6.55
5.90
4.522
Year 9
6.56
5.91
4.462
Year 10
6.55
5.90
4.461
Year 11
3.28
5.91
4.462
Year 12
5.90
4.461
Year 13
5.91
4.462
Year 14
5.90
4,461
Year 15
5.91
4.462
Year 16
2.95
4.461
Year 17
4.462
Year 18
4,461
Year 19
4.462
Year 20
4,461
Year 21
2.231
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