The Jones Company has just completed the third year of a five-year MACRS recovery period for a piece of equipment it originally purchased for $ 299 comma 000. a. What is the book value of the equipment?

$86,112

Explanation:

The MACRS depreciation rate for recovery period of 5 years is attached to the table below.

In the first year, there was a depreciation of;

= 299,000 * 20%

= $59,800

In the second year;

= 299,000 * 32%

= $95,680

In the third year;

= 299,000 * 19.20%

= $57,408

The Accumulated Depreciation in Year 3;

= 59,800 + 95,680 + 57,408

= $212,888

Book Value in third year;

= 299,000 - 212,888

= $86,112

c

explanation:

c because the item on a bank statement is also referred to as an account statement. in addition, it provides the beginning balance, ending balance, statement date, transaction date for each transaction, payee, customer name and address, statement period, the account holder's account number, and the bank's customer service number

answer; that person may have a larger tax bill to pay on income taxes;