Multiple Choice
Kemp Inc.,a calendar year taxpayer,generated over $10 million taxable income in 2017.Kemp made one asset purchase: manufacturing equipment costing $543,600.The equipment has a 7-year recovery period and was placed in service on June 14.Assuming that Kemp made the Section 179 election with respect to the equipment,compute Kemp's 2017 cost recovery deduction.
A) $543,600
B) $529,201
C) $524,915
D) None of the above
Correct Answer:
Verified
Correct Answer:
Verified
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