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Required information [The following information applies to the questions displayed below.) Assume that Sivart Corporation has 2020 taxable income of $1,750,000 for purposes of computing
Required information [The following information applies to the questions displayed below.) Assume that Sivart Corporation has 2020 taxable income of $1,750,000 for purposes of computing the $179 expense and acquired several assets during the year. Assume the delivery truck does not qualify for bonus depreciation. (Use MACRS Table 1, Table 2, Table 3, Table 4 and Table 5.) Asset Machinery Computer equipment Delivery Truck-used Furniture Total Placed in Service June 12 February 10 August 21 April 2 Basis $ 1,440,000 70,000 93,000 310,000 $ 1,913,000 b. What is the maximum total depreciation ($179, bonus, MACRS) that Sivart may deduct in 2020 on the assets it placed in service in 2020? Maximum total depreciation deduction (including $179 expense) Required information [The following information applies to the questions displayed below.) Assume that Sivart Corporation has 2020 taxable income of $1,750,000 for purposes of computing the $179 expense and acquired several assets during the year. Assume the delivery truck does not qualify for bonus depreciation. (Use MACRS Table 1, Table 2, Table 3, Table 4 and Table 5.) Asset Machinery Computer equipment Delivery Truck-used Furniture Total Placed in Service June 12 February 10 August 21 April 2 Basis $ 1,440,000 70,000 93,000 310,000 $ 1,913,000 b. What is the maximum total depreciation ($179, bonus, MACRS) that Sivart may deduct in 2020 on the assets it placed in service in 2020? Maximum total depreciation deduction (including $179 expense)
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