How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask JKCPA Your Own Question
JKCPA
JKCPA, CPA
Category: Tax
Satisfied Customers: 5884
Experience:  CPA with tax experience.
23848519
Type Your Tax Question Here...
JKCPA is online now
A new question is answered every 9 seconds

A firm purchases an asset falling into the 3-year MACRS category

Resolved Question:

A firm purchases an asset falling into the 3-year MACRS category for $78,000. The second year's depreciation expense for this asset would be? Show all work/calculations/formulas)
Submitted: 7 years ago.
Category: Tax
Expert:  JKCPA replied 7 years ago.

Hello,

Thanks for your question.

 

$78,000 x 0.4445 (Macrs rate for year 2)= $34,671

 

Hope this helps!

 

 

 

JKCPA and other Tax Specialists are ready to help you