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28. 105 During 2020, Belk Corporation purchases $70,000 worth of equipment for use in its business. Belk's current taxable income before considering the Section 179

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28. 105 During 2020, Belk Corporation purchases $70,000 worth of equipment for use in its business. Belk's current taxable income before considering the Section 179 deduction is $26,000. Assume that Belk elects not to claim bonus depreciation What is Belk's maximum Section 179 deduction in 2020? Explain. b. Belk's 2021 business taxable income-before a Section 179 deduction is $50,000. What is Belk's maximum Section 179 deduction in 2021? Explain

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