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Johnson Company acquires a machine (seven - year property) on January 10, 2015, at a cost of $947,000. Johnson makes the election to expense the
Johnson Company acquires a machine (seven - year property) on January 10, 2015, at a cost of $947,000. Johnson makes the election to expense the maximum amount under Sec. 179. No election is made to use the straight -line method. Determine the total deductions in calculating taxable income related to the machine for 2015 assuming Johnson has taxable income of $500,000.
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