8 points QUESTIONS On July 1 of the current year, Jeremiah Company purchased and placed into service factory machinery to be used in its operations. The machinery cost $150,000 and qualifies as 7-year MACRS property. The machines were the only assets placed into service during the year. Jeremiah elects to expense $50,000 u nder Section 179 and nothing under bonus depreciation. The company's taxable income before any deduction related to the machines is $80,000. Assume the depreciation table percentages are 14.29% for Y ear 1 and 24.49% for Year 2. What the total maximum expense deduction for these machines in the current year? SHOW WORK FOR PARTIAL CREDIT. TTT Ariel 3 (121) Pathep Words. Click Save and Submit to save and subunit. Click Save all to call anser Save As Answers Save and Sub 8 points QUESTIONS On July 1 of the current year, Jeremiah Company purchased and placed into service factory machinery to be used in its operations. The machinery cost $150,000 and qualifies as 7-year MACRS property. The machines were the only assets placed into service during the year. Jeremiah elects to expense $50,000 u nder Section 179 and nothing under bonus depreciation. The company's taxable income before any deduction related to the machines is $80,000. Assume the depreciation table percentages are 14.29% for Y ear 1 and 24.49% for Year 2. What the total maximum expense deduction for these machines in the current year? SHOW WORK FOR PARTIAL CREDIT. TTT Ariel 3 (121) Pathep Words. Click Save and Submit to save and subunit. Click Save all to call anser Save As Answers Save and Sub