Chaz Corporation has taxable income in 2020 of $312,000 for purposes of computing the §179 expense and acquired the following assets during the year: Asset Office furniture Computer equipment Delivery truck Qualified improvement property Total Placed in Service September 12 February 10 August 21 September 30 Basis 780,000 930,000 68,000 1,500,000 $3,278,000 $ What is the maximum total depreciation deduction that Chaz may deduct in 2020? (Use MACRS Table 1, Table 2, Table 3, Table 4 and Table 5.) (Round your intermediate calculations and final answer to the nearest whole dollar amount.)
Chaz Corporation has taxable income in 2020 of $312,000 for purposes of computing the §179 expense and acquired the following assets during the year: Asset Office furniture Computer equipment Delivery truck Qualified improvement property Total Placed in Service September 12 February 10 August 21 September 30 Basis 780,000 930,000 68,000 1,500,000 $3,278,000 $ What is the maximum total depreciation deduction that Chaz may deduct in 2020? (Use MACRS Table 1, Table 2, Table 3, Table 4 and Table 5.) (Round your intermediate calculations and final answer to the nearest whole dollar amount.)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Subject: accounting
![Chaz Corporation has taxable income in 2020 of $312,000 for purposes of computing the §179 expense and acquired the following
assets during the year:
Asset
Office furniture
Computer equipment
Delivery truck
Qualified improvement
property
Total
Placed in
Service
September 12
February 10
August 21
September 30
Basis
780,000
930,000
68,000
1,500,000
$3,278,000
Maximum total depreciation deduction
$
What is the maximum total depreciation deduction that Chaz may deduct in 2020? (Use MACRS Table 1, Table 2, Table 3, Table 4 and
Table 5.) (Round your intermediate calculations and final answer to the nearest whole dollar amount.)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fc7fe5a73-45e4-4166-8ba1-50e355550dfc%2F9748537c-1f7c-4497-8166-3734b31c3860%2Fjqt2cvu_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Chaz Corporation has taxable income in 2020 of $312,000 for purposes of computing the §179 expense and acquired the following
assets during the year:
Asset
Office furniture
Computer equipment
Delivery truck
Qualified improvement
property
Total
Placed in
Service
September 12
February 10
August 21
September 30
Basis
780,000
930,000
68,000
1,500,000
$3,278,000
Maximum total depreciation deduction
$
What is the maximum total depreciation deduction that Chaz may deduct in 2020? (Use MACRS Table 1, Table 2, Table 3, Table 4 and
Table 5.) (Round your intermediate calculations and final answer to the nearest whole dollar amount.)
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