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Mia Corporation (a calendar-year corporation) purchased and placed in service the following assets during 2019: Date Acquired Asset Description Cost 18-Feb Warehouse $3,450,000 2-Jun Used

Mia Corporation (a calendar-year corporation) purchased and placed in service the following assets during 2019:

Date Acquired

Asset Description

Cost

18-Feb

Warehouse

$3,450,000

2-Jun

Used Furniture

180,000

18-Aug

Used Computer Equipment

320,000

20-Sep

Used Machinery

2,050,000

15-Dec

Used Office Equipment

875,000

All assets are used 100% for business use. The $3,450,000 cost of the warehouse consists of $1,000,000 for the land and $2,450,000 for the building. The corporation has $3,000,000 income from operations before calculating depreciation deductions in 2019 and $3,500,000 in 2020. No assets were purchased or sold in 2020. If Section 179 applies, the companys tax strategy is to use Section 179 on any computer equipment purchased.

Required:

  1. Calculate the total depreciation deduction in 2019.
  2. Calculate the total depreciation deduction in 2020.

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