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Required information Skip to question [ The following information applies to the questions displayed below. ] Woolard Supplies ( a sole proprietorship ) has taxable

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[The following information applies to the questions displayed below.]
Woolard Supplies (a sole proprietorship) has taxable income in 2022 of $240,000 before any depreciation deductions (179, bonus, or MACRS) and placed some office furniture into service during the year. The furniture does not qualify for bonus depreciation. (Use MACRS Table 1, Table 2, Table 3, Table 4 and Table 5.)
Note: Do not round intermediate calculations. Round your intermediate calculations and final answers to the nearest whole dollar amount.
Asset Placed In Service Basis
Office furniture (used) March 20 $ 1,171,000
a. If Woolard elects $50,000 of 179, what is Woolard's total depreciation deduction for the year?

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