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Farm Management 7th Edition by Ronald Kay , William Edwards,Patricia Duffy
Edition 7ISBN: 978-0073545875Farm Management 7th Edition by Ronald Kay , William Edwards,Patricia Duffy
Edition 7ISBN: 978-0073545875 Exercise 5
Repeat the calculations in Question 4 without expensing, and compare the annual depreciation.
Reference Question 4:
Assume Fred Farmer purchased a new cotton harvester for $232,500 on March 1. Compute the maximum Section 179 expensing (assume a limit of $200,000 for the current year) and regular depreciation for the year of purchase using the regular MACRS method, and calculate the harvester's adjusted tax basis at the end of the year.
Reference Question 4:
Assume Fred Farmer purchased a new cotton harvester for $232,500 on March 1. Compute the maximum Section 179 expensing (assume a limit of $200,000 for the current year) and regular depreciation for the year of purchase using the regular MACRS method, and calculate the harvester's adjusted tax basis at the end of the year.
Explanation
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MACRS:
MACRS which is also known as "MO...
Farm Management 7th Edition by Ronald Kay , William Edwards,Patricia Duffy
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