Multiple Choice
Use the following information for questions 115 and 116:
On January 1, 2014, Garrett Company purchased a machine costing $250,000. The machine is in the MACRS 5-year recovery class for tax purposes and has an estimated $50,000 salvage value at the end of its economic life.
-Assuming the company uses the general MACRS approach, the amount of MACRS deduction for tax purposes for the year 2014 is
A) $50,000.
B) $100,000.
C) $80,000.
D) $40,000.
Correct Answer:
Verified
Correct Answer:
Verified
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