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Business, 11.05.2021 22:20 laceybudd9472

On August 1, 2017, David purchased manufacturing equipment for use in his business. The equipment cost $14,000 and has an estimated useful life and MACRS class life of 7 years. Calculate each of the following: a. Calculate the amount of depreciation on the manufacturing equipment for 2017 using the accelerated MACRS method and no election to expense or use bonus depreciation is made. b. Calculate the amount of depreciation on the manufacturing equipment for 2017 using the accelerated MACRS method and bonus depreciation used but no election to expense. c. Calculate the amount of depreciation on the manufacturing equipment for 2017 using the straight-line MACRS optional method and no election to expense or use bonus depreciation is made. d. Calculate the amount of depreciation on the manufacturing equipment for 2017 for financial accounting purposes using the straight-line method of depreciation.

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