Determine the recovery period for the furniture

Assignment Help Econometrics

Reference no: EM13223973

Your company just purchased office furniture (Asset class 00.11) for $100,000 and placed it in service an August 13, 2007. The cost basis for the furniture is $100,000, and it will be depreciated with the GDS using half-year convention. The expected salvage value of the furniture is $5,000 in 2015. Determine the recovery period for the furniture and its depreciation deductions over the recovery period.

Reference no: EM13223973

Questions Cloud

Explain the beer-lambert relationship in detail : Define the Beer-Lambert Relationship in detail.How does this relationship allow one to quantify an unknown?

Why should projects include risk in their project planning : Why should all projects include risk in their project planning? What are some of the drawbacks if risks are not considered?

Society for industrial and organizational psychology : Describe the scientist-practitioner model for I/O psychologists advocated by the Society for Industrial and Organizational Psychology (SIOP).

Describe how you would calibrate the pipette : You have a choice of a p-20 ,p-100,p-200,p-1000,a 1mL serological pipette , and a 5mL serological pipette. Which one(s) would you choose to make this standard and why? Explain how you would calibrate the pipette(s) you choose.

Determine the recovery period for the furniture : Your company just purchased office furniture (Asset class 00.11) for $100,000 and placed it in service an August 13, 2007. The cost basis for the furniture is $100,000, and it will be depreciated with the GDS using half-year convention.

Discuss a firms objective relative to its economic cost : Discuss a firm's objective relative to its economic cost. Describe each of the firm's economic cost, and whether these would be considered explicit or implicit. What is the difference between an economic profit and an accounting profit.

What in the material on addiction : What in the material on addiction did you find most useful? What are the three most valuable things you found that you would share with a friend who struggle with such issues?

Explain what is the value of the ionization constant : what is the value of the ionization constant of the weak acid HX at 298 K? You may ignore the contribution of the self-ionization of water.

What is the taxable income at the end of year : An injection-molding machine can be purchased and installed for $90,000. It is in the seven-year GDS property class and is expected to be kept in service for eight years. It is believed that $10,000 can be obtained when the machine is disposed of at ..

User Account

All Pages