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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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