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Question: 1 20 points mr jones has recently purchased 5 head...

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1. (20 points) Mr. Jones has recently purchased 5 head of cattle (meaning, 5 cows) for $20,000. Using MACRS depreciation, most livestock are considered to have a 5-year recovery period. Mr. Jones expects to be able to sell the cattle for $5.,000 after the last depreciation period. Assuming uld use a 5-year recovery period for each depreciation method, calculate the depreciation schedule (yearly depreciation amounts) using (a) the straight-line method; (b) the double-declining balance (DDB) method, and (c) the GDS schedule.

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