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Clay LLC placed in service machinery and equipment (7-year property) with a basis of $2,330,000 on June 6, 2016. Assume that Clay has sufficient income
Clay LLC placed in service machinery and equipment (7-year property) with a basis of $2,330,000 on June 6, 2016. Assume that Clay has sufficient income to avoid any limitations. Calculate the maximum depreciation expense including 179 expensing (ignoring any possible bonus expensing). (Assume that the 2015 179 limits are identical to 2016.) (Use MACRS Table 1)
$863,774.
None of the choices are correct.
$435,809.
$478,664.
$950,639.
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