Author Question: The original cost of a van was 26,000 with an estimated life of 12 years. What is the first-year ... (Read 86 times)

EY67

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The original cost of a van was 26,000 with an estimated life of 12 years. What is the first-year depreciation?

Question 2

What depreciation class is used for the purchase of a barge? Use the MACRS method.



ndhahbi

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Answer to Question 1

4,331.60;
100  12 = 8.33
8.33  2 = 16.66
26,000  16.66 = 26,000  0.1666 = 4,331.60

Answer to Question 2

10;
Vessels, barges, tugs, and similar water transportation equipment use the 10-year class.



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