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1. White Company acquires a new machine (seven-year property) on January 10, 2018, at a cost of S600,000. White makes the election to expense the

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1. White Company acquires a new machine (seven-year property) on January 10, 2018, at a cost of S600,000. White makes the election to expense the maximum amount under 179. No election is made to use the straight-line method. White does take additional first-year depreciation. Determine the deductions of S 179 and additional first-year depreciation that White can take related to the machine for 2018 assuming White has taxable income of $500,000. 2. During the year, Sophie went from Omaha to Lima (Peru) on business. She spent four days on business, two days on travel, and four days on vacation. Disregarding the vacation costs, Sophie's unreimbursed expenses are: Air fare Lodging 800 Meals Entertainment400 What are Sophie's deductible expenses? $3,000 600

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