Depreciation deduction for the machine, Accounting Basics

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Depreciation deduction for the machine

ABC Corp bought a production machine on January 1, 2011 for $30,000. The company elected out of Section 179 expensing and elected out of claiming bonus depreciation in 2011, and is depreciating the machine using the MACRS accelerated depreciation tables for 5-year property. What is the 2012 depreciation (year 2) deduction for the machine?

Select one:

a. None of the above is correct.

b. $6,000

c. $24,000

d. $9,600

e. $12,000

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Accounting Basics: Depreciation deduction for the machine

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Accounting Basics: Depreciation deduction for the machine

Reference No:- TGS046064

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Recent Questions Asked Accounting Basics

Q : Tax returns using the married filing jointly status

Q : How much clark claim as a child care credit

Q : How much advertising expense to allocate department

Q : What is the largest write-off aaron can obtain

Q : Depreciation deduction for the machine

Q : Taxpayer reporting on the cash basis

Q : Election to expense and bonus depreciation

Q : Conventional straight-line depreciation method

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Accounting Basics: Depreciation deduction for the machine

Reference No:- TGS046064

Recent Questions Asked Accounting Basics

Q : Tax returns using the married filing jointly status

Q : How much clark claim as a child care credit

Q : How much advertising expense to allocate department

Q : What is the largest write-off aaron can obtain

Q : Depreciation deduction for the machine

Q : Taxpayer reporting on the cash basis

Q : Election to expense and bonus depreciation

Q : Conventional straight-line depreciation method

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