ABC Corporation placed an asset in service 3 years ago. The company uses the MACRS method (7-yr life) for tax purposes and a straight-line method (7-yr useful life) for financial reporting purposes. Cost of asset is $100,000, and salvage value used for depreciating purposes is $20,000. What is the difference in the current book value obtained using both methods?
Paper#22946 | Written in 18-Jul-2015Price : $27