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HELP! Question 16 + 17 please (all pieces)

Required information Problem 11-42 (LO 11-3, LO 11-4) (Algo) [The following information applies to the questions displayed below.] On August 1 of year 0, Dirksen purchased a machine for $40,750 to use in its business. On December 4 of year 0, Dirksen sold the machine for $32,500. Use MACRS Table. Note: Loss amounts should be indicated by a minus sign. Do not round percentages used for calculations. Round other intermediate computations to the nearest whole dollar amount. Leave no answers blank. Enter zero if applicable. Problem 11-42 Part-a (Algo) a. What are the amount and character of the gain or loss Dirksen will recognize on the sale? Required information Problem 11-42 (LO 11-3, LO 11-4) (Algo) [The following information applies to the questions displayed below] On August 1 of year 0, Dirksen purchased a machine for $40,750 to use in its business. On December 4 of year 0, Dirksen sold the machine for $32,500. Use MACRS Table. Note: Loss amounts should be indicated by a minus sign. Do not round percentages used for calculations. Round other intermediate computations to the nearest whole dollar amount. Leave no answers blank. Enter zero if applicable. oblem 11-42 Part-b (Algo) Dirksen depreciated the machinery using MACRS (seven-year recovery period). What are the amount and character of the gain or s Dirksen will recognize on the sale if the machine is sold on January is of year 1 instead? Table 1 MACRS Half-Year Convention \begin{tabular}{|l|c|c|c|c|c|c|} \hline \multicolumn{7}{|c|}{ Depreciation Rate for Recovery Period } \\ \hline & 3-Year & 5-Year & 7-Year & 10-Year & 15-Year & 20-Year \\ \hline Year 1 & 33.33% & 20.00% & 14.29% & 10.00% & 5.00% & 3.750% \\ \hline Year 2 & 44.45 & 32.00 & 24.49 & 18.00 & 9.50 & 7.219 \\ \hline Year 3 & 14.81 & 19.20 & 17.49 & 14.40 & 8.55 & 6.677 \\ \hline Year 4 & 7.41 & 11.52 & 12.49 & 11.52 & 7.70 & 6.177 \\ \hline Year 5 & & 11.52 & 8.93 & 9.22 & 6.93 & 5.713 \\ \hline Year 6 & & 5.76 & 8.92 & 7.37 & 6.23 & 5.285 \\ \hline Year 7 & & & 8.93 & 6.55 & 5.90 & 4.888 \\ \hline Year 8 & & & 4.46 & 6.55 & 5.90 & 4.522 \\ \hline Year 9 & & & & 6.56 & 5.91 & 4.462 \\ \hline Year 10 & & & & 6.55 & 5.90 & 4.461 \\ \hline Year 11 & & & & 3.28 & 5.91 & 4.462 \\ \hline Year 12 & & & & & 5.90 & 4.461 \\ \hline Year 13 & & & & & 5.91 & 4.462 \\ \hline Year 14 & & & & & 5.90 & 4.461 \\ \hline Year 15 & & & & & 5.91 & 4.462 \\ \hline Year 16 & & & & & 2.95 & 4.461 \\ \hline Year 17 & & & & & & 4.462 \\ \hline Year 18 & & & & & & 4.461 \\ \hline Year 19 & & & & & & 4.462 \\ \hline Year 20 & & & & & & \\ \hline Year 21 & & & & & & \\ \hline \end{tabular}

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