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MMLU / On May 1 of the prior year, Baker purchased equipment with a five-year useful…

Problem

Answer published by the source. Consult the official source to check your work against its answer.

question

On May 1 of the prior year, Baker purchased equipment with a five-year useful life for a cost of $10,000. Baker adopted the MACRS depreciation system and did not utilize any special depreciation deductions. On March 1 of the current year, Baker sold the equipment. The MACRS depreciation schedule for five-year property is listed below:
First year - 20.00%
Second year - 32.00%
Third year - 19.20%
What amount of depreciation can Baker deduct in the current year?

choices

  1. $533
  2. $1,600
  3. $2,000
  4. $3,200

subject

professional_accounting

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Source and history

task_id
92d04e15-de7a-5b56-9410-68c91b38787b
task_key
all--test--92d04e15-de7a-5b56-9410-68c91b38787b
task_revision_id
1
config / split
all / test

Official source

initial import