[Solved] Firefly, Inc., acquires business equipmen

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Firefly, Inc., acquires business equipment in July 2020 for $2,601,800. Assume that Firefly elects not to claim bonus depreciation. a. Firefly's maximum Section 179 deduction

Firefly, Inc., acquires business equipment in July 2020 for $2,601,800. Assume that Firefly elects not to claim bonus depreciation.

a. Firefly's maximum Section 179 deduction for 2020 is ______.

c. The depreciable basis of the equipment is _______.

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