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1. Compute the allowable MACRS, section 179 and special first year write-off for Good Corp. (GC). GC elected all write-offs unless indicated otherwise. Use exhibit
1. Compute the allowable MACRS, section 179 and special first year write-off for Good Corp. (GC). GC elected all write-offs unless indicated otherwise. Use exhibit 10-3 on page 10-9 for MACRS period if it is not stated in given facts.
In June 2018 GC purchased a new machine to fabricate metal products in its production system. Cost was 3.4 million. What is total allowable write-off for 2018, 2019 and 2020.
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