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Exercise 8 - 2 4 ( Algorithmic ) ( LO . 3 ) McKenzie placed in service qualifying equipment ( 7 - year MACRS class
Exercise AlgorithmicLO McKenzie placed in service qualifying equipment year MACRS class for his business that cost $ in The taxable income of the business for the year is $ before consideration of any deduction. If an amount is zero, enter a Calculate McKenzie's expense deduction for and any carryover to expense deduction for : $ carryover to : $ b How would your answer change if McKenzie decided to use additional firstyear bonus depreciation on the equipment instead of using expensing? Hint: See Concept Summary Additional firstyear depreciation for : MACRS cost recovery for : $ Total cost recovery for : $
Exercise AlgorithmicLO
McKenzie placed in service qualifying equipment year MACRS class for his business that cost $ in The taxable income of
the business for the year is $ before consideration of any deduction.
If an amount is zero, enter
a Calculate McKenzie's expense deduction for and any carryover to
expense deduction for : $
carryover to : $
b How would your answer change if McKenzie decided to use additional firstyear bonus depreciation on the equipment instead of using
expensing? Hint: See Concept Summary
Additional firstyear depreciation for :
MACRS cost recovery for : $
Total cost recovery for : $
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