Data, Inc., purchased and placed in service $5,000 of office furniture on August 24, year 3. This is the only asset purchase during the year. Section 179 expensing and bonus depreciation were not elected. Using the excerpt of the MACRS half-year convention table below, what is the MACRS depreciation in year 3 for the office furniture? Recovery Period 5-Year 7-Year 10-Year 1 20% 14.29% 10% 2 32% 24.49% 18% 3 19.2% 17.49% 14.4% If required, round your answer to the nearest dollar. a.$500 b.$715 c.$875 d.$1,000
Data, Inc., purchased and placed in service $5,000 of office furniture on August 24, year 3. This is the only asset purchase during the year. Section 179 expensing and bonus depreciation were not elected. Using the excerpt of the MACRS half-year convention table below, what is the MACRS depreciation in year 3 for the office furniture? Recovery Period 5-Year 7-Year 10-Year 1 20% 14.29% 10% 2 32% 24.49% 18% 3 19.2% 17.49% 14.4% If required, round your answer to the nearest dollar. a.$500 b.$715 c.$875 d.$1,000
Chapter8: Depreciation, Cost Recovery, Amortization, And Depletion
Section: Chapter Questions
Problem 4BCRQ
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Data, Inc., purchased and placed in service $5,000 of office furniture on August 24, year 3. This is the only asset purchase during the year. Section 179 expensing and bonus
| Recovery Period | 5-Year | 7-Year | 10-Year |
| 1 | 20% | 14.29% | 10% |
| 2 | 32% | 24.49% | 18% |
| 3 | 19.2% | 17.49% | 14.4% |
If required, round your answer to the nearest dollar.
a.$500
b.$715
c.$875
d.$1,000
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