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Exhibit 11-05 Wilson Is Preparing His Tax Returns Using the MACRS Convention

question 97

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Exhibit 11-05
Wilson is preparing his tax returns using the MACRS convention. The following information relates to the purchase of an asset on January 1, Year 1.
MACRS Depreciation as a Percentage of the Cost of the Asset Exhibit 11-05 Wilson is preparing his tax returns using the MACRS convention. The following information relates to the purchase of an asset on January 1, Year 1. MACRS Depreciation as a Percentage of the Cost of the Asset -Refer to Exhibit 11-05, what amount of depreciation would be recorded on the income tax returns for year 3? A) $12,096 B) $21,000 C) $33,600 D) $20,160 Exhibit 11-05 Wilson is preparing his tax returns using the MACRS convention. The following information relates to the purchase of an asset on January 1, Year 1. MACRS Depreciation as a Percentage of the Cost of the Asset -Refer to Exhibit 11-05, what amount of depreciation would be recorded on the income tax returns for year 3? A) $12,096 B) $21,000 C) $33,600 D) $20,160
-Refer to Exhibit 11-05, what amount of depreciation would be recorded on the income tax returns for year 3?

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