Examlex
A tractor costing $20,000 is depreciated using the Modified Accelerated Cost Recovery System (MACRS) . The tractor belongs to 3-year property class and the depreciation rate for Year 1 is 33.33%, for Year 2 is 44.45%, for Year 3 is 14.81%, and for Year 4 is 7.41%. The depreciation expense for Year 3 is:
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An individual who initiates, organizes, and runs a business or businesses, taking on greater than normal financial risks in order to do so.
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