1 answer

Your company has purchased a large new trucktractor for over-the-road use (asset class 00.26). It has...

Question:

Your company has purchased a large new trucktractor for over-the-road use (asset class 00.26). It has a cost basis of $175,00

Your company has purchased a large new trucktractor for over-the-road use (asset class 00.26). It has a cost basis of $175,000. With additional options costing $14,000, the cost basis for depreciation purposes is $189,000. Its MV at the end of six years is estimated as $41,000. Assume it will be depreciated under the GDS: a. What is the cumulative depreciation through the end of year three? b. What is the MACRS depreciation in the second year? c. What is the BV at the end of year two? Click the icon to view the partial listing of depreciable assets used in business. Click the icon to view the GDS Recovery Rates (rw). a. The cumulative depreciation through the end of year three is $ . (Round to the nearest dollar.)

Answers

answer

cumulative depreciation for the end of the year 3 is =$82870

year 1 depreciation $148000*20%=$29600

year 2 depreciation $118000*32%=$37888

year 3 depreciation $80112*19.2%=$15381.5

the rates according to the table GDS recovery rate

.

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