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a. What is the maximum tax depreciation deduction Riverside Corporation may take in 2023, assuming the company elects 179 expense and bonus depreciation? Please show
a. What is the maximum tax depreciation deduction Riverside Corporation may take in 2023, assuming the company elects 179 expense and bonus depreciation? Please show your work and explain your calculations.
b. What is Riverside Corporation's depreciation deduction in 2024 (year 2) on the computer asset? (NOTE: You do not need to calculate the depreciation deduction on the other assets placed in 2023, just the computers). Please show your work and explain your calculations
Riverside Corporation purchased and placed in service the following assets in 2023 : Riverside Corporation purchased no other assets during 2023, and its net income for the year is $50,000,000 before considering cost recovery deductionsStep by Step Solution
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