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2021 2.5 pts Question 24 Johnson Company acquires a new machine (seven year property) on January 10, 2021, at a cost of $3,200,000. Johnson elects
2021
2.5 pts Question 24 Johnson Company acquires a new machine (seven year property) on January 10, 2021, at a cost of $3,200,000. Johnson elects not to take bonus depreciation but does make the election to expense the maximum amount under 179. No election is made to use the straight-line method. Determine the total cost recovery deductions (rounded. related to the machine for 2021 assuming Johnson has taxable income of $4,000,000. a come Step by Step Solution
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