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Question 1: Andrew is the sole owner of a small LLC, specializing in manufacturing ready-to-eat ramen noodle packages Andrew sends you the following income/expenses items

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Question 1: Andrew is the sole owner of a small LLC, specializing in manufacturing ready-to-eat ramen noodle packages Andrew sends you the following income/expenses items a week ago: - Income from the business: $800k - Expenses - Warehouse: $200k purchased on 12/31/2023 - New production machinery $100k purchased on 12/31/2023 - Employee salary 200k ( 1 full-time manager =50k,15 part-time contractors, 10k each) - Andrew needs to meet with a few bosses from HEB and Walmart to advertise his products. Below are the expenses associated with those client meetings that Andrew documented. - Diamond Club and Bar tickets for both Andrew and clients =20K - Food and Drinks =10k - Utilities: 30k a) Assuming Andrew cannot take any depreciation (no $179, no bonus, and no MACRS) in 2023, calculate Andrew's AGI. Show details calculation and explanation. b) How would your answer in a) change if Andrew now can take asset depreciation expenses? Show details calculation and explanation

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