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Charlie, Inc. has acquired various types of assets recently used 100 percent in its trade or business. Below is a list of assets acquired during
Charlie, Inc. has acquired various types of assets recently used 100 percent in its trade or business. Below is a list of assets acquired during 2020 and 2021 Asset Machinery Cost Basis $ 25,000 Warehouse Furniture Computer equipment Office equipment Automobile Office building 800,000 Convention Half-year Mid-month Date Placed in Service January 24, 2020 100,000 65,000 34,000 65,000 July 15, 2021 800,000 Class Lives: 5-year computer equipment, office equipment, automobile Class Life 7-year: furniture Class Life: Office building refer to the tables. August 1, 2020 October 5, 2021 October 10, 2021 September 28, 2021 September 24, 2021 Charlie did not elect $179 expense and elected out of bonus depreciation in 2020 and 2021. Calculate Charlie's maximum depreciation deduction for 2021 (Rom Essay Toolbar navigation B I US Y
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