Other Homework Help
University of Maryland Declining Method Accumulated Depreciation Problem
Reversing Rapids Co. purchases an asset for $135,843. This asset qualifies as a five-year recovery asset under MACRS. The five-year expense percentages for years 1, 2, 3, and 4 are 20.00%, 32.00%, 19.20%, and 11.52% respectively. Reversing Rapids has a tax rate of 30%. The asset is sold at the end of year 4 for $11,783.
Calculate accumulated depreciation over 4 years. Round the answer to two decimals.
Talk to us support@bestqualitywriters.com