Question
Green Lantern, Inc. purchased the following assets in 2021: Warehouse Building $700,000 Office Equipment $697,500 Machinery $1,102,500 Computer Network $400,000 a. What is Green Lanterns
Green Lantern, Inc. purchased the following assets in 2021:
Warehouse Building | $700,000 |
Office Equipment | $697,500 |
Machinery | $1,102,500 |
Computer Network | $400,000 |
- a. What is Green Lantern’s maximum section 179 deduction for 2021?
- b. If Green Lantern had business income, prior to depreciation, of $750,000, would that change your answer from part A?
Spiderman, Inc. purchased the following assets in 2021:
Computer System | $700,000 |
Factory Machines | $697,500 |
Office Furniture | $1,102,500 |
Delivery trucks (more than 6,000 lbs) | $400,000 |
- c. What is Spiderman’s maximum section 179 deduction for 2021?
- d. What is the total MACRS and Section 179 deductions for 2021, assuming no bonus depreciation
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Financial Institutions Management A Risk Management Approach
Authors: Marcia Cornett, Patricia McGraw, Anthony Saunders
8th edition
978-0078034800, 78034809, 978-0071051590
