In July 2013, Lenux Corporation (a calendar-year taxpayer) purchased $2,100,000 of new office furniture. Lenux claimed the

Question:

In July 2013, Lenux (a calendar-year taxpayer) purchased $2,100,000 of new office furniture. Lenux claimed the maximum allowable depreciation deduction (including having made any allowable elections). Calculate Lenux's total depreciation deduction for 2013 and 2014.
Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...