Calculate accumulated depreciation over four years

Assignment Help Financial Management

Reference no: EM132072522

Reversing Rapids Co. purchases an asset for $148,149. This asset qualifies as a five-year recovery asset under MACRS.

The five-year expense percentages for years 1, 2, 3, and 4 are 20.00%, 32.00%, 19.20%, and 11.52% respectively. Reversing Rapids has a tax rate of 30%.

The asset is sold at the end of year 4 for $12,570. Calculate accumulated depreciation over 4 years. Round the answer to two decimals.

Reference no: EM132072522

Questions Cloud

What is the least prevalent cell type in blood : What is the most prevalent cell type in blood, and what is the least prevalent cell type in blood?

Cancerous versus noncancerous cells : What are two methods you could use to study gene expression in cancerous versus noncancerous cells.

Advise the harrells on how they should respond to the irs : The beach house was in need of substantial repairs. Rather than hiring a contractor, Rex and Agnes decided they would make the repairs themselves.

Determine the strength of the acid in order : How could we determine the strength of the acid in order to pick an appropriate indicator (i.e an indicator that is weaker than the acid)?

Calculate accumulated depreciation over four years : Reversing Rapids Co. purchases an asset for $148,149. This asset qualifies as a five-year recovery asset under MACRS.

Describing the various revenue recognition methods : Question: Accounting in Practice: C&M - Prepare a brief memo describing the various revenue recognition methods acceptable for C&M

Find the minimum number of hours per year : In a reverse osmosis system, the water can be cooled using one of two systems: a single-pass heat exchanger or a closed-loop heat exchange system.

Write the chemical equation for the melting of ice : Write the chemical equation for the melting of ice. Don't forget to include the value for the energy term in your equation.

Provide a summary of the journal article : In the article, what strategies were used in resolving conflicts? Discuss their usefulness in conflict-management.

User Account

All Pages