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On March 1, 2023, Charles Chubb paid $1,400,000 for a new, state-of-the-art safe for use in Chubb's business. The safe was the only depreciable asset

On March 1, 2023, Charles Chubb paid $1,400,000 for a new, state-of-the-art safe for use in Chubb's business. The safe was the only depreciable asset Chubb placed in service during 2023. Chubb's taxable income from all business activities for 2023 (without regard to depreciation deductions) was $2,400,000. Complete the following table assuming Chubb made no §179 election, elected out of the application of §168(k), and elected to employ the straight-line method under §168(b)(5) to depreciate the cost of the safe. Do not make any computation beyond 2026.

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