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On August 3, Cinco Construction purchased special-purpose equipment at a cost of $1,000.090. The useful life of the equipment was estimated to be eight years, with an estimated residual value of $50,000.
Question a. Compute the depreciation expense to be recognized each calendar year for financial reporting purposes under the straight-line depreciation method (half-year convention).
Question b. Compute the depreciation expense to be recognized each calendar year for financial reporting purposes under the 200 percent declining-balance method (half-year convention) with a switch to straight-line when it will maximize depreciation expense.
Question c. Which of these two depreciation methods (straight-line or double-declining-balance) results in the highest net income for financial reporting purposes during the first two years of the equipment's use? Explain.
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Premier Company owns 90 percent of the voting shares of Stanton, Inc. Premier reports sales of $480,000 during 2014 and Stanton reports $264,000. Stanton sold inventory costing $28,800 to Premier (upstream) during the year for $57,600. Of this amount..
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Calculate the After-Tax Cash Flow, NPV (at minimum ROR=20%) and ROR for the following investment with 6 years life time: Equipment depreciation will be based on MACRS 5-years life depreciation starting from year 1 to year 6 (consider rates exactly si..
McKinnon reports in its 2011 annual report 10-K, sales of $2,045 million and cost of goods sold of $818 million. For next year, you project that sales will grow by 5% and that cost of goods sold percentage will be 2 percentage points higher.
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(Computation of Bond Prices) What would you pay for a $50,000 debenture bond that matures in 15 years and pays $5,000 a year in interest if you wanted to earn a yield of:
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