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9. In 2023, Herbert Container Co., a calendar year taxpayer, purchased business equipment (5 year assets) for $2,150,000. Herbert wants to take the largest possible
9. In 2023, Herbert Container Co., a calendar year taxpayer, purchased business equipment (5 year assets) for $2,150,000. Herbert wants to take the largest possible tax deduction in 2023 related to this property. Compute the largest tax deduction possible in 2023 related to this business equipment. Herbert has income of $1,500,000 prior to any depreciation deductions. (Consider Section 179 deduction at 2023 levels, but ignore bonus depreciation.)
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