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On October 1,2023 , Vernica purchased a business. Of the purchase price, $168,000 is allocated to a patent and $1,008,000 to goodwill. If required, round

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On October 1,2023 , Vernica purchased a business. Of the purchase price, $168,000 is allocated to a patent and $1,008,000 to goodwill. If required, round your intermediate values to nearest dollar and use in subsequent computations. Calculate Vernica's 2023 197 amortization deduction. $x Jebali Company reports gross income of $489,800 and other property-related expenses of $318,370 and uses a depletion rate of 22%. Calculate Jebali's depletion allowance for the current year. x McKenzie placed in service qualifying equipment (7-year MACRS class) for his business that cost $473,800 in 2023. The taxable income of the business for the year is $70,700 before consideration of any $179 deduction. If an amount is zero, enter " 0 ". a. Calculate McKenzie's $179 expense deduction for 2023 and any carryover to 2024. 5179 expense deduction for 2023: \$ 5179 carryover to 2024: \& b. How would your answer change if McKenzie decided to use additional first-year (bonus) depreciation on the equipment instead of using 5179 expensing? Hint: See Concept Summary 8.3. Additional first-year depreciation for 2023: \$ MACRS cost recovery for 2023: s Total cost recovery for 2023:$

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