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Reid acquired two assets in 2018: computer equipment (5-year property) acquired on August 6 th with a basis of $1,000,000 and machinery (7-year property) on
Reid acquired two assets in 2018: computer equipment (5-year property) acquired on August 6thwith a basis of $1,000,000 and machinery (7-year property) on November 9th with a basis of $1,000,000. Assume that Reid has sufficient income to avoid any limitations. Calculate the maximum depreciation expense for 2018 including 179 expensing (but not bonus expensing).
what is the 179 expense?
amount of depreciation expense on the computer?
amount of depreciation expense on the machinery?
total maximum depreciation and 179 expense?
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