Compute the first-year depreciation

Reference no: EM13764833

A lumber company purchases and installs a wood chipper for $232,000. The chipper is classified as MACRS 7-year property. Its useful life is 10 years. The estimated salvage value at the end of 10 years is $25,000. Using MACRS depreciation, compute the first-year depreciation.

Reference no: EM13764833

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