In November, 2018, Creative Corn Products, a calendar year taxpayer, placed into service its only equipment...
In November, 2018, Creative Corn Products, a calendar year taxpayer, placed into service its only equipment during the year. The equipment, which was purchased used, cost $2,615,000. All of the equipment qualified as 5 year property under MACRS. Assuming that the equipment is eligible for §179 but NOT eligible for 100% bonus depreciation, the maximum deduction that the taxpayer may claim with respect to the equipment is
a. $510,000
b. $1,231,000
c. $971,500.
d. $885,000.
e. $306,000.
f. $2,615,000
g $86,500.
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In November, 2018, Creative Corn Products, a calendar year
taxpayer, placed into service its only equipment...
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