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! Required information Problem 1 0 - 6 2 ( LO 1 0 - 2 , LO 1 0 - 3 ) ( Static )
Required information
Problem LO LO Static
The following information applies to the questions displayed below.
Woolard Supplies a sole proprietorship has taxable income in of $ before any depreciation deductions
bonus, or MACRS and placed some office furniture into service during the year. The furniture does not qualify for
bonus depreciation. Use MACRS Table Table Table Table and Table
Note: Round your intermediate calculations and final answers to the nearest whole dollar amount.
Problem Part b Static
b If Woolard elects the maximum amount of $ for the year, what is the amount of deductible $ expense for the year? What is the
total depreciation that Woolard may deduct in What is Woolard's $ carryforward amount to next year, if any?
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