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3. Larry purchases machinery for his business (7-year MACRS property) on April 1, at a cost of $3,037,000. On June 1, he spends $840,000 for

3. Larry purchases machinery for his business (7-year MACRS property) on April 1, at a cost of $3,037,000. On June 1, he spends $840,000 for equipment (5-year MACRS property). Larry does not want to claim bonus depreciation but does wish to use Section 179. a. What is the maximum deduction allowable

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