A piece of construction equipment (asset class 15.0) was purchased by the Jones Construction Company in 2015. The cost basis was $310,000. The plan is to use the equipment and dispose it after about 8 years of service. a). Determine the MACRS-GDS and MACRS-ADS recovery periods for the equipment b). Determine the annual GDS and ADS depreciation deductions for this property c). If the company disposes the equipment and sells it sooner in 2017. Instead of 2023, what would the the GDS and ADS depreciations for that year? d). Based on (c), what are the corresponding book values under the GDS and ADS depreciations? a). The GDS recovery period is ___ years
The ADS recovery period is __ years. b). Determine the GDS depreciation deductions for this property. (Round to the nearest dollar) Years The GDS depreciation deductions. 2015 $
2016 $
2017 $
2018 $
2019 $
2020 $
Determine the ADS depreciation deductions for this property. (Round to the nearest dollar) Year The ADS depreciation deductions,
