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Hermione purchased and placed in service machine costing $2,500,000 in November of 2019. This is the only asset she placed in service during the year.
Hermione purchased and placed in service machine costing $2,500,000 in November of 2019. This is the only asset she placed in service during the year. Her net income for the year is $2,000,000.(7 Points) a. What is her depreciation deduction for 2020 if she elects Section 179? b. What is her depreciation deduction for 2020 if makes no elections and uses MACRS? c. What is her depreciation deduction for 2020 if she elects Additional First Year (Bonus) depreciation? d. Which method would you recommend for her? Hermione purchased and placed in service machine costing $2,500,000 in November of 2019. This is the only asset she placed in service during the year. Her net income for the year is $2,000,000.(7 Points) a. What is her depreciation deduction for 2020 if she elects Section 179? b. What is her depreciation deduction for 2020 if makes no elections and uses MACRS? c. What is her depreciation deduction for 2020 if she elects Additional First Year (Bonus) depreciation? d. Which method would you recommend for her
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