2011 depreciation with 3 year class life
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On January 3, 2008, John acquired and placed into service business tools costing $10,000. The tools have a 3-year class life. No other assets were purchased during that year. The depreciation in 2011 for those tools is (ignoring Sec. 179).
A. $0.
B. $741.
C. $1,920.
D. $3,333.
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This solution provides the correct answer with explanation and full calculations to the 3-year class life depreciation question listed.
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I calculated this problem a few different ways, based on the two most common forms of depreciation used in 2008. They're using a double declining balance, in this problem. ...
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