Auburn company purchased an asset on january 1 year 1 for


Auburn Company purchased an asset on January 1, Year 1 for $150,000. The asset has a MACRS life of 7 years.The residual value of the asset is $35,000. Calculate the depreciation expense for Year 1 and Year 2 using MACRS. 

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Accounting Basics: Auburn company purchased an asset on january 1 year 1 for
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