How much gain on sale or recaptured depreciation is there

Reference no: EM132165542

Question - A numerically controlled milling machine was purchased for $95,000 four years ago. The estimated salvage value was $15,000 after 15 years. What is the machine's book value after 5 years of depreciation? If the machine is sold for $20,000 early in Year 7, how much gain on sale or recaptured depreciation is there? Assume

(a) 7-year MACRS depreciation.

(b) Straight-line depreciation.

(d) 150% declining balance depreciation.

Reference no: EM132165542

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