Modified accelerated cost recovery system

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Which of these are assumptions of the Modified Accelerated Cost Recovery System (MACRS)?

- All assets have zero salvage value.

- All service dates are assumed to be at the end of the purchase year.

- Costs are based on only the purchase price of the asset.

- Deemed asset lives most often exceed what a reasonable person would assume.

- All assets are depreciated with the straight line method.

This is a multiple choice question and it possible to have several choices so just show the correct choices

Reference no: EM13797116

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