Calculate accumulated depreciation over six years

Assignment Help Financial Management

Reference no: EM131461841

Genetic Insights Co. purchases an asset for $19,864. This asset qualifies as a seven-year recovery asset under MACRS. The seven-year fixed depreciation percentages for years 1, 2, 3, 4, 5, and 6 are 14.29%, 24.49%, 17.49%, 12.49%, 8.93%, and 8.93%, respectively. Genetic Insights has a tax rate of 30%. The asset is sold at the end of six years for $3,681. Calculate accumulated depreciation over 6 years. Round the answer to two decimals.

Reference no: EM131461841

Questions Cloud

Find the net present value of the project : Find the net present value of the project (in pounds) if the appropriate discount rate is 10%.

Reflect market maturity for the computer hardware : Does the move to providing services by companies like IBM, HP, Xerox, and Dell reflect market maturity for the computer hardware and software industries?

Strategic-financial-operational and technical risk : Can you identify a company that has been affected significantly by either strategic, financial, operational, commercial, or technical risk?

Designing a risk management program : For what kinds of questions does one seek answers in designing a risk management program?

Calculate accumulated depreciation over six years : Genetic Insights Co. purchases an asset for $19,864. Calculate accumulated depreciation over 6 years.

What is the labor variance and labor efficiency variance : What is the labor variance?, rate variance?, and labor efficiency variance?.

Resulting percentage change in earnings per share : what will be the resulting percentage change in earnings per share if they expect units produced and sold to change -4.2 percent?

What is contributing to the change in profit : You run a lab that performs a single blood test that calculates an overall 'wellness' assessment, What is contributing to the change in profit?

Firm three year payback requirement : Leo is considering adding deli to his general store. The remodeling expenses and shelving costs are estimated at $2,500. Leo has firm 3-year payback requirement

User Account

All Pages