Solution-Compute for the deductible depreciation expense

Compute for the deductible depreciation expense

Reference no: EM132759811

RE university had the following major capital expenditures during the year:

RE paid the 10M contract price of a building which was completed in the middle of the year. The building is expected to be used for 50 years with 1M residual value. RE expensed the entire amount
RE spent 1,200,000 repair which was completed at the end of the first quarter on another building. At the start of the year, the building had a book value of 12,000,000 and a remaining useful life of 40 years. After the repair, the building was appraised at 15,000,000
RE paid 1,000,000 for a license to use a computer software intended for learning management for 10 years

Problem 1: Compute for the deductible depreciation expense

Reference no: EM132759811

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Compute for the deductible depreciation expense

Reference no: EM132759811

Reference no: EM132759811

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