Question
On April 5, 2017, Orange Corporation purchased, and placed in service, seven-year class assets costing $540,000 and five-year class assets costing $140,000. Orange elects to
On April 5, 2017, Orange Corporation purchased, and placed in service, seven-year class assets costing $540,000 and five-year class assets costing $140,000. Orange elects to expense the maximum amount under 179. Orange does not take additional first-year depreciation. Assume taxable income is not a limitation. Determine Orange Corporations cost recovery with respect to the assets for 2017. (Use Exhibit 8.3).
| a. | $77,166. |
| b. | $508,000. |
| c. | $533,716. |
| d. | $542,287. |
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Information Technology Auditing
Authors: James A. Hall
4th edition
1133949886, 978-1305445154, 1305445155, 978-1133949886
