Hi, Tracey,

MF100 is not an accelerated method.  Rather, it is a straight-line method.  However, the “M” stands for MACRS which was introduced through the Tax Reform Act signed into law by then President Ronald Reagan almost 4 decades ago.  The MF100 method applies to tax reporting and should not be used in the Internal book unless you are using the book for tax reporting reasons.

Once you change the book information field to a more appropriate method, you can then change the estimated life to 12 years.

Ordinarily, I might suggest using the default depreciation method as indicated in your company settings.  Most of our customers are using a straight-line method such as SF or SL.  But your last line tells me that you may prefer to use an accelerated method for this particular asset.  And if that’s the case, what is the acceleration factor you want to use in the formula?  For example, you could use a DB200, often referred to as a double declining balance method, or you could use a less aggressive method such as DB175, DB150, or maybe DB125.

The general rule in GAAP is that you want to use a method that most realistically reflects the demise of the asset over its life.  As you may know, an accelerated method such as a declining balance method will give you most of the depreciation in the early years of the asset's life.