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Business Mathematics 13th Edition by Gary Clendenen,Stanley Salzman
Edition 13ISBN: 978-0321955050Business Mathematics 13th Edition by Gary Clendenen,Stanley Salzman
Edition 13ISBN: 978-0321955050 Exercise 3
FORD MOTOR COMPANYy
www.ford.com
Facts :
• 1925: Price of first Ford truck was $281
• 1950s: Cars styled for more comfort
• 2003: Celebrates 100th anniversary
• 2009-10: Weathers financial crisis without government help
In 1903, with $28,000 in cash, Henry Ford started Ford Motor Company, which is now one of the world's largest companies. Ford's greatest contribution to automobile manufacturing was the moving assembly that allowed individual workers to stay in one place and perform the same task on each vehicle as it passed by. The moving assembly line allowed Ford to cut costs and reduce prices of new automobiles so that average working families could afford them. Today, the Ford Motor Company sells a variety of vehicles under the Ford and Lincoln brands.
Capital Curb and Concrete purchased a new Ford truck for $26,500 to be used by the sales manager, who often drives to construction sites to work with customers. The firm's accountant believes that the useful life of the truck is 5 years and that the estimated salvage value is $4500.
The company also spent $118,350 to purchase a truck that hauls concrete. Which method of depreciation must it use when calculating federal income taxes? What is the appropriate recovery class? Use this information for all of this exercises. ____________
www.ford.com
Facts :
• 1925: Price of first Ford truck was $281
• 1950s: Cars styled for more comfort
• 2003: Celebrates 100th anniversary
• 2009-10: Weathers financial crisis without government help
In 1903, with $28,000 in cash, Henry Ford started Ford Motor Company, which is now one of the world's largest companies. Ford's greatest contribution to automobile manufacturing was the moving assembly that allowed individual workers to stay in one place and perform the same task on each vehicle as it passed by. The moving assembly line allowed Ford to cut costs and reduce prices of new automobiles so that average working families could afford them. Today, the Ford Motor Company sells a variety of vehicles under the Ford and Lincoln brands.
Capital Curb and Concrete purchased a new Ford truck for $26,500 to be used by the sales manager, who often drives to construction sites to work with customers. The firm's accountant believes that the useful life of the truck is 5 years and that the estimated salvage value is $4500.
The company also spent $118,350 to purchase a truck that hauls concrete. Which method of depreciation must it use when calculating federal income taxes? What is the appropriate recovery class? Use this information for all of this exercises. ____________
Explanation
Verified
Verified
The MACRS method of depreciation is used...
Business Mathematics 13th Edition by Gary Clendenen,Stanley Salzman
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