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In 2023, Mckenzie purchased and placed into service qualifying equipment (7-year MACrS class) for his business that cost $309,500. The taxable income of the business

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In 2023, Mckenzie purchased and placed into service qualifying equipment (7-year MACrS class) for his business that cost $309,500. The taxable income of the business for the year is $57,100 before consideration of any $179 deduction. If an amount is zero, enter " 0 ". a. Calculate McKenzie's 5179 expense deduction for 2023 and any carryover to 2024. 5179 expense deduction for 2023: 5 5179 carryover to 2024:\$ b. How would your answer change if McKenzle decided to use additional first-year (bonus) depreciation on the equipment instead of using 5. 179 expensing? Hint: See Concept Summary 8.3. Additional first-year depreciation for 2023: 3 MACRS cost recovery for 2023: Total cost recovery for 2023: 4

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