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The corporation uses macrs depreciation for tax purposes


Question - The Corporation uses MACRS depreciation for tax purposes. The corporation purchased all of its equipment on July 1 2014. Corporation took the maximum amount of Section 179 depreciation (no bonus depreciation). The equipment is all 7 year property.

Cost of the equipment $930,000

What is the amount of depreciation for the tax year 2016?

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Accounting Basics: The corporation uses macrs depreciation for tax purposes
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