Janice acquires machinery in 2015 that qualifies as seven, Financial Accounting

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Janice acquires machinery in 2015 that qualifies as seven

Janice acquires machinery in 2015 that qualifies as seven year MACRS property and has a $100,000 basis for depreciation. The half year convention is applied in the year of acquisition. In December 2016, the machinery is sold. What is Janice’s depreciation deduction for 2016?

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Financial Accounting: Janice acquires machinery in 2015 that qualifies as seven

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Financial Accounting: Janice acquires machinery in 2015 that qualifies as seven

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