Question
Riverside Corporation purchased and placed in service the following assets in 2021: PIS Date 2/26/2021 6/12/2021 9/15/2021 11/16/2021 Asset Computers Office Furniture Gen. manufacturing equipment
Riverside Corporation purchased and placed in service the following assets in 2021: PIS Date 2/26/2021 6/12/2021 9/15/2021 11/16/2021 Asset Computers Office Furniture Gen. manufacturing equipment Manufacturing building Cost $750,000 $570,000 $1,500,000 $6,000,000 Riverside Corporation purchased no other assets during 2021, and its net income for 2021 is $50,000,000 before considering cost recovery deductions. a. What is the maximum depreciation deduction Riverside Corporation may take in 2021, assuming the company elects 179 expense and elects out of bonus depreciation? Please show your work and explain your calculations.
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