A mold for manufacturing medical supplies (MACRS-GDS 5-year property) is purchased at the beginning of...
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Accounting
A mold for manufacturing medical supplies (MACRS-GDS 5-year property) is purchased at the beginning of the fiscal year for $30,000. The estimated salvage value after 10 years is $3,000. Calculate the depreciation deduction and the book value during each year of assets life using MACRS-GDS allowances.
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