Question
Acorn Construction (calendar-year end C-corporation) has had rapid expansion during the last half of the current year due to the housing markets recovery. The company
Acorn Construction (calendar-year end C-corporation) has had rapid expansion during the last half of the current year due to the housing markets recovery. The company has record income and would like to maximize their cost recovery, as much as possible, for the current year. Acorn provided the following information:
Assets | Placed in Service | Basis |
New Equipment and Tools | August 20 | $810,000 |
Used Light Duty Trucks | October 17 | 1,200,000 |
Used Machinery | November 6 | 520,000 |
Total |
| $2,530,000 |
What is Acorns maximum cost recovery expense in the current year including bonus depreciation and 179?
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