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Assume that Sivart Corporation has 2018 taxable income of $1,750,000 for purposes of computing the 179 expense and acquired several assets during the year. The
Assume that Sivart Corporation has 2018 taxable income of $1,750,000 for purposes of computing the 179 expense and acquired several assets during the year. The delivery truck was acquired in a nontaxable transaction. (Use MACRS Table 1, Table 2, Table 3, Table 4 and Table 5.)
Placed in | |||
Asset | Service | Basis | |
Machinery | June 12 | $ | 1,440,000 |
Computer equipment | February 10 | 70,000 | |
Delivery Truck-used | August 21 | 93,000 | |
Furniture | April 2 | 310,000 | |
Total | $ | 1,913,000 | |
|
b. What is the maximum total depreciation (179, bonus, MACRS) that Sivart may deduct in 2018 on the assets it placed in service in 2018?
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