Calculate accumulated depreciation over 6 years.

Business & Finance
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Genetic Insights Co. purchases an asset for $12,685. This asset qualifies as a seven-year recovery asset under MACRS. The seven-year fixed depreciation percentages for years 1, 2, 3, 4, 5, and 6 are 14.29%, 24.49%, 17.49%, 12.49%, 8.93%, and 8.93%, respectively. Genetic Insights has a tax rate of 30%. The asset is sold at the end of six years for $3,142.

 Calculate accumulated depreciation over 6 years. Round the answer to two decimals.

Oct 3rd, 2015

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Cost of Machine 12685
Year Depreciation % Accumulated Depreciation
1 14.29% $1,812.69
2 24.49% $3,106.56
3 17.49% $2,218.61
4 12.49% $1,584.36
5 8.93% $1,132.77
6 8.93% $1,132.77
$10,987.75
MACRs accumulated depreciation.xlsx

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Oct 3rd, 2015

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