33. Compute MACRS depreciation for the following qualified assets for the calendar years 2020 and...
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33. Compute MACRS depreciation for the following qualified assets for the calendar years 2020 and 2021: (Ignore bonus depreciation and the Section 179 deduction.) Asset Year Cost Salvage Purchased Value Business March 2020 $85,500 $10,000 equipment (7-year property) Car May 2020 14,000 1,000 Office furniture July 2020 18,050 3,000 (7-year property) Building January 2020 185,000 5,000 (Office)
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