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Compute the total allowable cost recovery on the two trucks

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Reference no: EM132529433

Question - The bookkeeper for the Reilly Construction Company is computing depreciation for income tax purposes, using the figures from the MACRS tables supplied by the IRS. Reilly Construction Company purchased a truck in February 2005 for $40,000. In March 2005, a second truck was purchased for $48,000. Assume that allowable depreciation for each truck is 20% for the first year and 32% for the second year.

Required - Refer to Reilly Construction Company. Compute the total allowable cost recovery on the two trucks for the year 2005.

Reference no: EM132529433

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