A piece of newly purchased industrial equipment costs $1,100,000 and is classifi

Question

A piece of newly purchased industrial equipment costs $1,100,000 and is classified as seven-year property under MACRS. The MACRS depreciation schedule is shown in MACRS Table.

Calculate the annual depreciation allowances and end-of-the-year book values for this equipment. (Do not round intermediate calculations. Leave no cells blank. Enter "0" when necessary.)

Thanks!

A piece of newly purchased industrial equipment costs $1,100,000 and is classified as seven-year property under MACRS. The MACRS depreciation schedule is shown in MACRS Table.

Explanation / Answer

Beginning Beginning Depreciation Ending Book Year Book Value Allowance Value 1 1100000 157190 942810 2 942810 269390 673420 3 673420 192390 481030 4 481030 137390 343640 5 343640 98230 245410 6 245410 98120 147290 7 147290 98230 49060 8 49060 49060 0

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