IE 343 Spring 2010 Name: Section 2, Quiz 9 (last) (first) Closed book, closed notes. No calculators. 1.The local UPS store has purchased a new truck for $15,000 to assist with its delivery service. The truck falls under the 00.241 asset class category and has an ADSrecovery period of 5 years. If the UPS store sells the truck for $8,200 at the end of the 3rdyear, what is the capital gain (or loss) on the truck at this time? To calculate the depreciation deductions over ADS recovery periods, SL method is used. 1321500013000; 3000; 300052kddddNote that half-time convention is applied for the 1stand 3rdyear. *3123*33600015000 60009000ddddBVB dCapital gain = MV
This is the end of the preview.
access the rest of the document.