On September 1,2013,David purchased manufacturing equipment for use in his business.The equipment cost $13,000 and has an estimated useful life and MACRS class life of 7 years.No election to expense or use bonus depreciation is made.
a.Calculate the amount of depreciation on the manufacturing equipment for 2013 using conventional financial accounting,not MACRS)straight-line depreciation.
b.Calculate the amount of depreciation on the manufacturing equipment for 2013 using the straight-line MACRS optional method.
c.Calculate the amount of depreciation on the manufacturing equipment for 2013 using the accelerated MACRS method.
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