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In 2022, Whitman Corporation purchases two assets and places them into service (both have 7-year MACRS recovery View the assets. Whitman elects $1.08 million under
In 2022, Whitman Corporation purchases two assets and places them into service (both have 7-year MACRS recovery View the assets. Whitman elects $1.08 million under Sec. 179 and elects out of bonus depreciation. Assets View the MACRS mid-quarter convention rates for property_placed in service in the first quarter. View the MACRS mid-quarter convention rates for property_placed in service in the fourth quarter. View the MACRS half-year convention rates. - Asset \#1: \$1,140,000 cost; placed in service in February. Read the requirements. - Asset \#2: $1,230,000 cost; placed in service in November. Requirement a. Compute Whitman's total depreciation deduction for 2022 if it elects the $1.08 million for Asset \#1. (Eni the MACRS depreciation to the nearest dollar. Complete all input fields. Enter a "0" if no Sec. 179 deduction is taken. )
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