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Assume FTN Corporation (calendar year end) has 2020 taxable income of $500,000 for purposes of computing the $179 expense. During 2020, FTN acquired the following

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Assume FTN Corporation (calendar year end) has 2020 taxable income of $500,000 for purposes of computing the $179 expense. During 2020, FTN acquired the following assets: Basis $2,150,000 365,000 480.000 Asset Placed in Service Machinery August 12 Computer Equipment February 10 Office Furniture April 2 Determine FTN's maximum cost recovery under the following situation (@) FTN opts out of bonus depreciation but elects $179 Total Maximum Cost Recovery for 2020 (6) FTN does NOT opt out of bonus depreciation. Total Maximum Cost Recovery for 2020

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