On May 1 of the prior year, Baker purchased equipment with a five-year useful life...
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Accounting
On May 1 of the prior year, Baker purchased equipment with a five-year useful life for a cost of $10,000. Baker adopted the MACRS depreciation system and did not utilize any special depreciation deductions. On March 1 of the current year, Baker sold the equipment. The MACRS depreciation schedule for five-year property is listed below:
|
|
| |
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| First year | - 20.00% |
|
| Second year | - 32.00% |
|
| Third year | - 19.20% |
What amount of depreciation can Baker deduct in the current year?
$ 533
$1,600
$2,000
$3,200
Answer is 1600
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