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28. Cora purchased a hotel building on May 17, 2018, for $3,000,000. Determine the cost recovery deduction for 2019 a. $59,520 b. $76,920 c. $69,000 e. None of these choices are correct. d. $48,150 29. Carlos purchased an apartment building on November 16, 2018, for $3,000,000. Determine the cost recovery for 2018. a. $22,740 b. $13,950 c. $9,630 d.$11,910 e. None of these choices are correct. 30. White Company acquires a new machine (seven-year property) on January 10, 2018, ata cost of $620,000, white makes the election to expense the maximum amount under 179, and wants to take any additional first-year depreciation allowed. No election is made to use the straight-line method. Determine the total deductions in calculating taxable income related to the machine for 2018 assuming White has taxable income of $800,000 a. $620,000 b. $301,159 c. $568,574 d. $88,598 e. None of these choices are correct. 31. In 2017, Gail had a S 179 deduction carryover of $30,000. In 2018, she elected S 179 for an asset acquired at a cost of $115,000. Gail's $179 business income limitation for 2018 is S140,000. Determine Gail's 179 deduction for 2018. a. $115,000 b. $25,000 c. $140,000 d. $130,000 e. None of these choices are correct. 32. During the past two years, through extensive advertising and improved customer relations, Orange Corporation estimated that it had developed customer goodwill worth S500,000. For the current year, determine the amount of goodwill Orange Corporation may amortize a. $26,667 b.$100,000 c.$33,333 e. None of these choices are correct. d. $16,667 33. On June 1, 2018, Red Corporation purchased an existing business. With respect to the acquired assets of the business, Red allocated S300,000 of the purchase price to a patent. The patent will expire in 20 years. Determine the total amount that Red may amortize for 2018 for the patent. a. $1,667 b. $0 c. $35,000 d. $11,667 e. None of these choices are correct 34. On January 1, 2018, SymboNet Company completed its acquisition of NetOpen. As part of the acquisition, $2 million was allocated to goodwill. What is SymboNet's amortization deduction related to the goodwill for 2018? a. $0. b, $200,000. c.$100,000. d. $133,333. 35. On January 15, 2018, Dillon purchased the rights to a mineral interest for $3,500,000. At that time it was estimated that the recoverable units would be 500,000. During the year, 40,000 units were mined and 25,000 units were sold for $800,000. Dillon incurred expenses during 2018 of $500,000. The percentage depletion rate is 22%. Determine Dillon's depletion deduction for 2018 a. $200,000 b, $176,000, c-$150,000. d, $175,000. 28. Cora purchased a hotel building on May 17, 2018, for $3,000,000. Determine the cost recovery deduction for 2019 a. $59,520 b. $76,920 c. $69,000 e. None of these choices are correct. d. $48,150 29. Carlos purchased an apartment building on November 16, 2018, for $3,000,000. Determine the cost recovery for 2018. a. $22,740 b. $13,950 c. $9,630 d.$11,910 e. None of these choices are correct. 30. White Company acquires a new machine (seven-year property) on January 10, 2018, ata cost of $620,000, white makes the election to expense the maximum amount under 179, and wants to take any additional first-year depreciation allowed. No election is made to use the straight-line method. Determine the total deductions in calculating taxable income related to the machine for 2018 assuming White has taxable income of $800,000 a. $620,000 b. $301,159 c. $568,574 d. $88,598 e. None of these choices are correct. 31. In 2017, Gail had a S 179 deduction carryover of $30,000. In 2018, she elected S 179 for an asset acquired at a cost of $115,000. Gail's $179 business income limitation for 2018 is S140,000. Determine Gail's 179 deduction for 2018. a. $115,000 b. $25,000 c. $140,000 d. $130,000 e. None of these choices are correct. 32. During the past two years, through extensive advertising and improved customer relations, Orange Corporation estimated that it had developed customer goodwill worth S500,000. For the current year, determine the amount of goodwill Orange Corporation may amortize a. $26,667 b.$100,000 c.$33,333 e. None of these choices are correct. d. $16,667 33. On June 1, 2018, Red Corporation purchased an existing business. With respect to the acquired assets of the business, Red allocated S300,000 of the purchase price to a patent. The patent will expire in 20 years. Determine the total amount that Red may amortize for 2018 for the patent. a. $1,667 b. $0 c. $35,000 d. $11,667 e. None of these choices are correct 34. On January 1, 2018, SymboNet Company completed its acquisition of NetOpen. As part of the acquisition, $2 million was allocated to goodwill. What is SymboNet's amortization deduction related to the goodwill for 2018? a. $0. b, $200,000. c.$100,000. d. $133,333. 35. On January 15, 2018, Dillon purchased the rights to a mineral interest for $3,500,000. At that time it was estimated that the recoverable units would be 500,000. During the year, 40,000 units were mined and 25,000 units were sold for $800,000. Dillon incurred expenses during 2018 of $500,000. The percentage depletion rate is 22%. Determine Dillon's depletion deduction for 2018 a. $200,000 b, $176,000, c-$150,000. d, $175,000