Chester, Inc. purchased and placed in service the following items in 2020: ApartmentBuildingIn-service10/15$1,500,000 OfficeFurnitureIn-service6/30$20,000 PrinterIn-service11/25$3000 ParkingLotIn-service7/25$55,000 Chester's
Fantastic news! We've Found the answer you've been seeking!
Question:
Chester, Inc. purchased and placed in service the following items in 2020:
ApartmentBuildingIn-service10/15$1,500,000
OfficeFurnitureIn-service6/30$20,000
PrinterIn-service11/25$3000
ParkingLotIn-service7/25$55,000
Chester's taxable income before any depreciation expense (including bonus and179) is $60,000. What is the maximum depreciation expense Chester, Inc. can take, including accelerated depreciation?
a.
$37,120
b.
$89,370
c.
$60,000
d.
None of these
e.
$17,153
Expert Answer:
Posted Date:
