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Required information [The following information applies to the questions displayed below.] Burbank Corporation (calendar year-end) acquired the following property this year: (Use MACRS Table 1,
Required information [The following information applies to the questions displayed below.] Burbank Corporation (calendar year-end) acquired the following property this year: (Use MACRS Table 1, Table 2 and Exhibit 10-10.) Burbank acquired the copier in a tax-deferred transaction when the shareholder contributed the copier to the business in exchange for stock. Note: Round your answer to the nearest whole dollar amount. a. Assuming no bonus or 179 expense, what is Burbank's maximum cost recovery deduction for this year? b. Assuming Burbank would like to maximize its cost recovery deductions by claiming bonus and 179 expense, which assets should Burbank immediately expense? Note: You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect. c. What is Burbank's maximum cost recovery deduction this year assuming it elects 179 expense and claims bonus depreciation
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