Lee's furniture just purchased $24,000 of fixed assets that are classified as 5-year macrs property. the macrs rates are 20 percent, 32 percent, 19.2 percent, 11.52 percent, 11.52 percent, and 5.76 percent for years 1 to 6, respectively. what is the amount of the depreciation expense for the third year if the firm applies the new bonus method of depreciation?

Depreciation expense for the third year if company applies the new bonus method of depreciation is $4608.

Explanation:

Using the IRS MACRS rate in percentage given in the question, we can calculate the depreciation expense for the third year.

Cost of asset is $24000

MACRS for the third year is given as 19.2% in the question.

Therefore, we can calculate thus For the third year:

19.2% × $24000 = $4608.

NOTE; The same method can also be used to calculate the depreciation expense for first, second, fourth. Fifth and sixth years respectively.

a a car

~courtney

brainliest?

answer; i believe the correct answer is (75 years);