Max uses a Ford F-350 Truck (Gross Vehicle Weight = 7,100 pounds) 100% for business. He acquired and placed the vehicle in service in his business in January of the current year. The vehicle cost $76,000. Max elects Section 179 and does not elect out of bonus depreciation. The maximum deduction allowed this year is: A)25,900 B)76,000 C)18,100 D)10,100

On October 24th of this year, David acquired and placed into service 7-year business equipment costing $80,000. In addition, on April 18th of this year, David had also placed in business use 5-year recovery property costing $15,000. David elected to apply Sec. 179 immediate expensing to the 7-year asset, but not the 5-year asset. He elected out of bonus depreciation. No other assets were purchased during the year. The total depreciation (179 and MACRS) for this year is: A)83,000 B)80,000 C)83,750 D)80,750

Sophie owns an unincorporated manufacturing business. In July, 2021, she purchases and places in service $2,680,000 of qualifying five-year equipment for use in her business. Her taxable income from the business before any Sec. 179 deduction is $995,000. Sophie elects to expense the maximum under Sec. 179 and does not apply bonus depreciation. What is Sophie's maximum total cost recovery deduction (MACRS depreciation and Sec. 179) for 2021?