Details of this Paper

ACC - In May 2013, Preston purchases 5-year MACRS property costing $150,000

Description

solution


Question

Question;In May 2013, Preston purchases 5-year MACRS property costing $150,000 and 7-year MACRS property costing $140,000. Preston?s income is $100,000. If Preston wishes to maximize his total 2013 cost recovery deduction, what will his total cost recovery deduction be on the properties purchased in 2013? (Preston elects out of bonus depreciation.)Why is the answer $135,716?

 

Paper#40529 | Written in 18-Jul-2015

Price : $19
SiteLock