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part 3 PART III Samuels Corp. purchased the following assets and startup costs during 2020: Office Furniture for $150,000 on 2/6/2020 Equipment for $750,000 on
part 3
PART III Samuels Corp. purchased the following assets and startup costs during 2020: Office Furniture for $150,000 on 2/6/2020 Equipment for $750,000 on 6/22/2020 Truck for $55,000 on 8/15/2020 Start-up costs $23,000 on 2/1/2020 27 a. Assuming that Samuels does not elect the Section 179 deduction or bonus depreciation, calculate what the depreciation deduction would be in Years 2020 and 2021 b. Assume Samuel elects to claim the Section 179 deduction. What depreciation can Samuels take in Years 2020 and 2021 Step by Step Solution
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