A farmer has purchased new agricultural equipment for $100,000. The farmer plans to keep the equipment over 5 calender years. Its salvage value after the 5 years is estimated to be $20,000.
Using the MACRS-GDS method, the depreciation for the second year will be equal to
Click the icon to view the partial listing of depreciable assets used in business.
Click the icon to view the GDS Recovery Rates (k).
Choose the correct answer below.
OA. $32,000
B. $25,600
OC. $19,592
OD. $24,490
CTT)