How do I do this without excel? Crane Corporation just purchased computing equipment for...

80.2K

Verified Solution

Question

Accounting

How do I do this without excel?image

Crane Corporation just purchased computing equipment for $16,000. The equipment will be depreciated using a five-year MACRS tax proceeds from the sale, assuming the marginal tax rate is 35 percent? (Round answer to 2 decimal places, e.g. 15.25.) schedule. If the equipment is sold at the end of its fourth year for $10,000, what are the after EXHIBIT 11.7 MACRS Depreciation Schedules by Allowable Recovery Period The MACRS schedule lists the tax depreciation rates that firms use for assets placed into service afler the Tax Reform Act of 1986 went into effect. The table indicates the percentage of the cost of the asset that can be depreciated in each year during the period that it is being used. Year 1 is the year in which the asset is first placed into service 3-Year 33.33% 4445 14.81 741 10-Year 10.00% 18.00 14.40 11.52 9.22 7.37 6.55 15-Year 5.00% 9.50 8.55 7.70 6,93 6.23 5.90 5.90 5.91 5.90 5.91 5.90 5.91 5.90 5.91 2.95 5-Year 20,000 32.00 19.20 11.52 11.52 5.76 7-Year 14.29% 24.49 17.49 12.49 8.93 8.92 8.93 4.46 20-Year 3.75% 12 6.18 5.71 5.29 4.89 4.52 6.55 3.28 10 446 12 4.46 446 4.46 14 15 4.46 17 18 20 21 Total 4.46 446 4.46 224 100 004 100 00% 100,00% 100 00% 100 00% 100 00% After-tax proceeds Crane Corporation just purchased computing equipment for $16,000. The equipment will be depreciated using a five-year MACRS tax proceeds from the sale, assuming the marginal tax rate is 35 percent? (Round answer to 2 decimal places, e.g. 15.25.) schedule. If the equipment is sold at the end of its fourth year for $10,000, what are the after EXHIBIT 11.7 MACRS Depreciation Schedules by Allowable Recovery Period The MACRS schedule lists the tax depreciation rates that firms use for assets placed into service afler the Tax Reform Act of 1986 went into effect. The table indicates the percentage of the cost of the asset that can be depreciated in each year during the period that it is being used. Year 1 is the year in which the asset is first placed into service 3-Year 33.33% 4445 14.81 741 10-Year 10.00% 18.00 14.40 11.52 9.22 7.37 6.55 15-Year 5.00% 9.50 8.55 7.70 6,93 6.23 5.90 5.90 5.91 5.90 5.91 5.90 5.91 5.90 5.91 2.95 5-Year 20,000 32.00 19.20 11.52 11.52 5.76 7-Year 14.29% 24.49 17.49 12.49 8.93 8.92 8.93 4.46 20-Year 3.75% 12 6.18 5.71 5.29 4.89 4.52 6.55 3.28 10 446 12 4.46 446 4.46 14 15 4.46 17 18 20 21 Total 4.46 446 4.46 224 100 004 100 00% 100,00% 100 00% 100 00% 100 00% After-tax proceeds

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students