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44. In 2019, Gall had a Code Section 179 deduction carryover of $ 30,000. In 2020, she elected Code Section 179 for an asset
44. In 2019, Gall had a Code Section 179 deduction carryover of $ 30,000. In 2020, she elected Code Section 179 for an asset acquired at a cost of $ 115,000. Gail's Code Section 179 business income limitation for 2020 is $ 140,000. Determine Gail's Code Section 179 deduction for 2020. a. $ 25,000 b. $115,000 c. $130,000 d. $140,000
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Introduction to Financial Accounting
Authors: Charles Horngren, Gary Sundem, John Elliott, Donna Philbrick
11th edition
978-0133251111, 013325111X, 0133251039, 978-0133251036
