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the answer in the picture is wrong MACRS (L0.6) Chen Corporation purchases the following business assets during the current year: Date Purchased Cost Recovery-period Office

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MACRS (L0.6) Chen Corporation purchases the following business assets during the current year: Date Purchased Cost Recovery-period Office furniture 1/15/19 $480,000 Computer Asset 7 4/1/19 $60,000 5 Boat 7/21/19 $1,023,000 10 Refer to the MACRS Depreciation Table to answer the following question. Note: Round all values to the nearest dollar. Assume that Chen elects not to claim bonus depreciation. The maximum current year cost-recovery deduction on the assets purchased is $ 1,082,892. (Hint: Maximize the Section 179 election effect.)

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