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Section 7 - DEPRECIATION UNDER FEDERAL INCOME TAX DEPRECIATION RULES During 2 0 2 1 , Diamonds Inc. purchases only one asset: equipment ( 7

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Section 7-DEPRECIATION UNDER FEDERAL INCOME TAX DEPRECIATION RULES
During 2021, Diamonds Inc. purchases only one asset: equipment (7-year property) for $1,650,000. Diamonds takes the maximum Section 179 deduction and elects out of 100% bonus. Compute maximum tax depreciation for 2021-2028
\table[[Year,Depreciation Calculation,Rate,Dep.Exp],[2021,,,],[2021,,,],[2022,,,],[2023,,,],[2024,,,],[2025,,,],[2026,,,],[2027,,,],[2028,,,],[Total,,,]]
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