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Problem - MACRS, NPV - Lilly Company is planning to buy a set of special tools for its grinding operation. The cost of the tools is $18,000. The tools have a three-year life and qualify for the use of the three-year MACRS. The tax rate is 40 percent; the cost of capital is 12 percent.
You must use the Exhibit 19B.1 and Exhibit 19B.2 present value tables and Exhibit 19.5 to solve the following problems.
Required: Calculate the present value of the tax depreciation shield, assuming that straight-line depreciation with a half-year life is used. Round intermediate calculations and your final answer to the nearest dollar.
Mayaguez Corporation provides its officers with bonuses based on net income. For 2014, the bonuses total $350,000 and are paid on February 15, 2015. Prepare Mayaguez's December 31, 2014, adjusting entry and the February 15, 2015, entry.
She did not take any salary from the business for its first two years of operations. She is now receiving a salary that is 150 percent of what comparable businesses pay their presidents.
Identify the legal issues arising. Where relevant you should justify and support your answers with reference to statute and/or case law.
Bailey Mills recently won the jackpot in the New Jersey lottery while he was visiting his parents. When he arrived at the lottery office to collect his winnings, he was offered the following three payout options:
allcell manufacturing is a division of birch communications inc. all cell produces cell phones and sells these phones
consider the following independent jobs. overhead is applied in department 1 at the rate of 6 per direct labor hour.
assuming that the morocco desk co. purchases 6000 feet of lumber at 6.00 per foot and the standard price for direct
Prepare schedules to accomplish each of the following process-costing steps for the month of June. Use the weighted-average method of process costing.
the following information relates to california coffee beans for 2007 net income 724.210 million unrealized holding
What is the materials price variance for the month and what is the materials quantity variance for the month
the city of mcneely sold bonds in the amount of 10000000 to finance the construction of a public health center. the
analyze the following scenario duncombe village golf course is considering the purchase of new equipment that will cost
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