The Counting House, Inc., purchased 5-year property class equipment for $60,000. It uses the MACRS method of depreciation. What is tax depreciation for the second year of the asset's life?
A.) $12,000
B.) $19,200
C.) $20,000
D.) $24,000
Answer: B
The Counting House, Inc., purchased 5-year property class equipment for $60,000. It uses the MACRS method of depreciation. What is tax depreciation for the second year of the asset's life?
A.) $12,000
B.) $19,200
C.) $20,000
D.) $24,000
Answer: B