Question

Fox Enterprise purchased some fixed assets four years ago at a cost of $246,000. It no...

  1. Fox Enterprise purchased some fixed assets four years ago at a cost of $246,000. It no longer needs these assets, so it is going to sell them today at a price of $61,000. The assets are classified as 5-year property for MACRS. The MACRS table values .2000, .3200, .1920, .1152, .1152, and .0576 for Years 1 to 6, respectively. What is the current book value of these assets?

    $42,508.80

    $40,242.40

    $38,612.60

    $36,712.20

    $44,510.30

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Answer #1

Calculate the current book value as follows:

Therefore, the current book value is $42,508.80.

Formulas:

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