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Manal Elkhoshkhany
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For business Tutor Here is this one, 17.Mike purchases

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For business Tutor

Here is this one,

17.Mike purchases a heavy-duty truck (5-year class recovery property) for his delivery
service on April 30, 2010. The truck is not considered a passenger automobile for
purposes of the listed property and luxury automobile limitations. The truck has a depreciable basis of $39,080 and an estimated useful life of 5 years. Its estimated
salvage value is $1,080. Assume no election to expense is made and no bonus
depreciation is taken.
a. Calculate the amount of depreciation for 2010 using financial accounting
straight-line depreciation (not the straight-line MACRS election) over the
truck's estimated useful life.
b. Calculate the amount of depreciation for 2010 using the straight-line
depreciation election under MACRS over the minimum number of years.
c. Calculate the amount of accelerated depreciation for 2010 that Mike could
deduct using MACRS.
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