Paul purchased a mobile home that originally cost 185,000 and has ...

[jazziefee]

Paul purchased a mobile home that originally cost 185,000 and has a salvage value of 42,000? What depreciation class is used? Use the MACRS method.

Question 2

If the asset is bought during the year, depreciation is taken on the number of _________ remaining in that year. If the asset is purchased before the _________ of a month, the full month is taken. If it is purchased after the 15th, __________ depreciation for that month is taken.
 Fill in the blank(s) with correct word

[Tabitha_2016]

Answer to Question 1

27.5;
A residential property, such as mobile home, uses the 27.5-year class.

Answer to Question 2

months; 15th; no

[jazziefee]

YES! Correct, THANKS for helping me on my review

[kilada]

Wow, this really help