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McGraw-Hill's Taxation of Individuals 3rd Edition by Brian Spilker,Benjamin Ayers,John Robinson,Edmund Outslay ,Ronald Worsham,John Barrick,Connie Weaver
Edition 3ISBN: 978-0077328368McGraw-Hill's Taxation of Individuals 3rd Edition by Brian Spilker,Benjamin Ayers,John Robinson,Edmund Outslay ,Ronald Worsham,John Barrick,Connie Weaver
Edition 3ISBN: 978-0077328368 Exercise 24
[LO 2, LO 3] Assume that Timberline Corporation has 2011 taxable income of $240,000 before the §179 expense (assume no bonus depreciation).
![[LO 2, LO 3] Assume that Timberline Corporation has 2011 taxable income of $240,000 before the §179 expense (assume no bonus depreciation). a) What is the maximum amount of §179 expense Timberline may deduct for 2011 b) What would Timberline's maximum depreciation expense be for 2011 c) What would Timberline's maximum depreciation expense be for 2011 if the furniture cost $2,000,000 instead of $350,000](https://storage.examlex.com/SM1975/11eb5db9_c427_1372_b032_f12db4694e31_SM1975_00.jpg)
a) What is the maximum amount of §179 expense Timberline may deduct for 2011
b) What would Timberline's maximum depreciation expense be for 2011
c) What would Timberline's maximum depreciation expense be for 2011 if the furniture cost $2,000,000 instead of $350,000
a) What is the maximum amount of §179 expense Timberline may deduct for 2011b) What would Timberline's maximum depreciation expense be for 2011
c) What would Timberline's maximum depreciation expense be for 2011 if the furniture cost $2,000,000 instead of $350,000
Explanation
Verified
Verified
Depreciation (MACRS rules)
Depreciation...
McGraw-Hill's Taxation of Individuals 3rd Edition by Brian Spilker,Benjamin Ayers,John Robinson,Edmund Outslay ,Ronald Worsham,John Barrick,Connie Weaver
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