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42 3 pts Gibson Company acquires a new machine (seven year property) on February 19, 2021, at a cost of $2,200,000. Gibson makes no elections.

42 3 pts Gibson Company acquires a new machine (seven year property) on February 19, 2021, at a cost of $2,200,000. Gibson makes no elections. Determine the total cost recovery deductions (rounded). related to the machine for 2021. $550,000 $314,380 $2,200,000 None of the answers are correct $0

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