A piece of newly purchased industrial equipment costs $990,000 and is classified as seven-year property under MACRS (MACRS Schedule). Calculate the annual depreciation allowances and end-of- the-year book values for this equipment.
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- Referring to PA7 where Kenzie Company purchased a 3-D printer for $450,000, consider how the purchase of the printer impacts not only depreciation expense each year but also the assets book value. What amount will be recorded as depreciation expense each year, and what will the book value be at the end of each year after depreciation is recorded?A piece of newly purchased industrial equipment costs $1,030,000 and is classified as seven-year property under MACRS (MACRS Schedule). Calculate the annual depreciation allowances and end-of-the-year book values for this equipment.A piece of newly purchased industrial equipment costs $980,000 and is classified as seven-year property under MACRS (MACRS Schedule). Calculate the annual depreciation allowances and end-of-the-year book values for this equipment. Note: Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32. Leave no cells blank. Enter "0" when necessary. Year Beginning Book Value Depreciation Allowance Ending Book Value 1 2 3 4 5 6 7 8
- A project requires $16,412 of equipment that is classified as a 7-year property. What is the depreciation expense in Year 5 given the following MACRS depreciation allowances, starting with year one: 14.29, 24.49, 17.49, 12.49, 8.93, 8.92, 8.93, and 4.46 percent? Enter your answer rounded off to two decimal points. Do not enter $ or comma in the answer box.A project requires $55,265 of equipment that is classified as a 7-year property. What is the depreciation expense in Year 4 given the following MACRS depreciation allowances, starting with year one: 14.29, 24.49, 17.49, 12.49, 8.93, 8.92, 8.93, and 4.46 percent? Enter your answer rounded off to two decimal points. Do not enter $ or comma in the answer box. For example, if your answer is $12.345 then enter as 12.35 in the answer box.A company has to invest in equipment which costs $2,500,000 and will be depreciated under the MACRS system for a 5-year asset class. It is expected to have a scrap value of $700,000 at the end of the project. Calculate the depreciation for each year.
- A piece of newly purchased industrial equipment costs $1,080,000 and is classified as seven-year property under MACRS (MACRS Schedule). Calculate the annual depreciation allowances and end-of-the-year book values for this equipment. Note: Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32. Leave no cells blank. Enter "0" when necessary. Please answer fast I give you upvote.A high-precision programmable router for shaping furniture components is purchased by Henredon for $190,000. It is expected to last 12 years. Calculate the depreciation deduction and book value for each year using MACRS-GDS allowances. a. What is the MACRS-GDS property class? b. Assume the complete allowable depreciation schedule is used. c. Assume the asset is sold during the 5th year of use.A piece of newly purchased industrial equipment costs $983,000 and is classified as seven-year property under MACRS. The MACRS depreciation schedule is shown in Table 10.7. Calculate the annual depreciation allowances and end-of-the-year book values for this equipment. (Leave no cells blank - be certain to enter "0" wherever required. Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) Year 1 2 3 4 5 6 7 8 Beginning Book Value Depreciation Ending Book Value
- A company purchases new cement manufacturing assets that cost $15 million. This is classified in the 15-year property class using MACRS-GDS. What would be the depreciation allowance and book value at the end of years 1 and 3 using MARS with 50% bonus depreciation? a) Depreciation allowance at the end of year 1: b) Book value at the end of year 3 c)Depreciation allowance at the end of year 1: d) Book value at the end of year 3A firm is evaluating the acquisition of an asset that costs $68,200 and requires $3,930 in installation costs. If the firm depreciates the asset under MACRS, using a five year recovery period, see table attached: Determine the depreciation charge for each year.A company that manufactures food and beverages in the vending industry has purchased some handling equipment that cost $75,000 and will be depreciated using either 100% bonus depreciation or 3year MACRS. Show in a table for each method the yearly depreciation amount and book value of the asset over its depreciable life.