Find the first year's depreciation using the MACRS method of depreciation and the MACRS depreciation rates table. Round to the nearest dollar.
-Cost: $296,500
Period: 7-year

Name: Find the first year's depreciation using the MACRS method of depreciation and the MACRS depreciation rates table. Round to the nearest dollar. -Cost: $296,500 Period: 7-year
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Question

Find the first year's depreciation using the MACRS method of depreciation and the MACRS depreciation rates table. Round to the nearest dollar. 
-Cost: $296,500
Period: 7-year

Quizplus · Accepted Answer

The correct choice is A) $42,370, which is the annual cost when the total cost of $296,500 is divided evenly over a 7-year period.

Find the First Year's Depreciation Using the MACRS Method of Depreciation