Essay
Columbia LLC only purchased one asset this year. Columbia LLC placed in service on July 9, 2018 machinery and equipment (7-year property) with a basis of $2,750,000. Assume that Columbia has sufficient income to avoid any limitations. Calculate the maximum depreciation expense including §179 expensing (but ignoring bonus expensing) for the year. (Use MACRS Table 2) (Round final answer to the nearest whole number.)
Correct Answer:
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$1,035,800.
The $1,000,000 §179 expense ...View Answer
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Correct Answer:
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The $1,000,000 §179 expense ...
View Answer
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