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Election to Expense Assets (LO. 5) Firefly, Inc., acquires business equipment in July 2017 for $2,039,100. Assume that Firefly elects not to claim bonus depreciation.
Election to Expense Assets (LO. 5) Firefly, Inc., acquires business equipment in July 2017 for $2,039,100. Assume that Firefly elects not to claim bonus depreciation. a. Firefly's maximum Section 179 deduction for 2017 is s b. Any portion of the annual limit not deducted in 2017 c. The depreciable basis of the equipment is is lost forever can be carried forward
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Auditing And Assurance Services
Authors: Timothy Louwers, Robert Ramsay, David Sinason, Jerry Strawser
2nd Edition
0073128244, 9780073128245
