Business, 16.04.2020 16:10, jmchmom6066

1.MACRS with Trade-In: In May 2011, your company traded in a computer and peripheral equipment, used in its business, that had a BV at that time of $25,000. A new, faster computer system having a fair market value of $300,000 was acquired. Because the vendor accepted the older computer as a trade-in, a deal was agreed to whereby your company would pay $225,000 cash for the new computer system.

What is the property class life and recovery year for the computer system?

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1.MACRS with Trade-In: In May 2011, your company traded in a computer and peripheral equipment, used...