Sun Lee's Furniture Just Purchased Some Fixed Assets Classified as 5-Year

question 39

Multiple Choice

Sun Lee's Furniture just purchased some fixed assets classified as 5-year property for MACRS.The assets cost $24,000.What is the amount of the depreciation expense for the third year? $$\begin{array}{l}\text { MACRS 5-year property }\\\begin{array} { l r } \underline{\text { Year }} &\underline{ \text { Rate } }\\ 1 & 20.00 \% \\2 & 32.00 \% \\3 & 19.20 \% \\4 & 11.52 \% \\5 & 11.52 \% \\6 & 5.76 \%\end{array}\end{array}$$

• A)$2,304
• B)$2,507
• C)$2,765
• D)$4,608
• E)$4,800

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Definitions:

Inclusion

The practice of ensuring that all individuals, regardless of their diverse backgrounds or abilities, are fully accepted and integrated into a group, organization, or activity.

Basic Functions

Encompasses the fundamental roles or activities that are essential for the operation and success of an organization, such as planning, organizing, leading, and controlling.

Delegating

The process of assigning responsibility and authority to others to complete a clearly defined task while maintaining accountability for its success.

Decision Making

The mental process involved in choosing an action path from several options.