CT316 Exam 3 (Ch 9-13) W25 12 The MACRS recovery period for automobiles and computers is: Multiple Choice three years. five years. seven years. ten years. None of the choices are correct. < Prev 12 of 39
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A piece of equipment having a negligible salvage and scrap value is estimated to have a MACRS and straight-line recovery period of 5 years. The original cost of the equipment was $50,000. Determine: a) The depreciation charge for the second year if straight-line depreciation is used and the percentage of the original investment paid off in the first 2 years. b) The depreciation charge for the fifth year if the modified accelerated cost recovery system (MACRS) is used and the percentage of the original investment paid off in the first 2 years.
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