Business, 27.11.2020 01:50 cookiem0nster

A package delivery truck with a five-year MACRS class purchased at $80,000. It was purchased and placed in service on January 5, 2020. The applicable salvage values would be $40,000 in 2021, $10,000 2023, and $2,000 in 2027.) Compute the gain or loss amounts when the asset is disposed of in: 2021
2023
2027

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Answer from: timmonskids6027

gain if sold at the end of 2021 = $1,600

loss if sold at the end of 2023 = -$3,824

gain if sold at the end of 2027 = $2,000

Explanation:

MACRS half year convention depreciation rate for 5 year recovery period

year depreciation % depreciation expense book value

0 $80,000

2020 20% $16,000 $64,000

2021 32% $25,600 $38,400

2022 19.20% $15,360 $23,040

2023 11.52% $9,216 $13,824

2024 11.52% $9,216 $4,608

2025 5.76% $4,608 $0

gain if sold at the end of 2021 = $40,000 - $38,400 = $1,600

loss if sold at the end of 2023 = $10,000 - $13,824 = -$3,824

gain if sold at the end of 2027 = $2,000

Answer from: Quest

The answer should be b.

Answer from: Quest

The federal reserve took an expansionary approach during the crisis. this was done by expanding the money supply and boosting liquidity. this can be seen in the fed's actions of lending to banks, purchasing securities, and lowering the federal funds rate in order to lower overall interest rates. the fed's goal was to increase consumer spending and overall liquidity within the system, and they pursued this by expanding the supply of liquid money.

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A package delivery truck with a five-year MACRS class purchased at $80,000. It was purchased and pla...

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