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can someone help wirh 12-14? 12. During 2021, Corp. A purchased machinery costing $20,000 and a warehouse costing $160,000. Assume that these are the only
can someone help wirh 12-14?
12. During 2021, Corp. A purchased machinery costing $20,000 and a warehouse costing $160,000. Assume that these are the only two acquisitions of depreciable property purchased by Corp. A during 2021. What is the maximum Code Sec. 179 deduction available to Corp. A for 2021? A. $60,000 B. 80,000 C. 20,000 D. 25,000 E. None of the above 13. Calendar year Corp. A purchased and placed in service seven-year property costing $106.,00 on June 16,2021 . The property is depreciated using the MACRS tables. Assuming that Corp. A opts not to take advantage of the Code Sec. 179 deduction and that the mid-quarter convention applies to all seven-year property placed in service during 2021, what depreciation deduction will Corp. A claim for 2021 ? A. $106,000 B. 18,920 C. 15,150 D. 11,350 E. None of the above 14. Calendar year Corp. A purchased and placed in service only two items of tangible personal property during 2021 a machine ( 7yr.) costing $20,000, purchased and placed in service on May 11, and a machine (7 yr.) costing $40,000, purchased and placed in service on November 28. Assume that Corp. A opts not to take any Code Section 179 deduction. What total 2021 depreciation deduction amount (for both machines) will Corp. A claim for the year? A. $5,000 B. 2,140 C. 10,710 D. 8,570 E. None of the above Step by Step Solution
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