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A) Johnson, LLC only purchased one asset this year. Johnson, LLC placed in service on July 19, 2019, machinery and equipment (seven-year property) with a
A) Johnson, LLC only purchased one asset this year. Johnson, LLC placed in service on July 19, 2019, machinery and equipment (seven-year property) with a basis of $1,330,000. Assume that Johnson, LLC has sufficient income to avoid any limitations. Calculate the maximum depreciation deduction, including 179 expensing (but ignoring bonus depreciation). (Use MACRS Table 1.)
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