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Chaz Corporation

Chaz Corporation

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Chaz Corporation has taxable income in 2023 of $1,312,100 for purposes of computing the $179 expense and acquired the following assets during the year: Asset Office furniture Computer equipment Delivery truck Qualified real property (MACRS, 15 year, 150% DB) Total Placed in 1 Service September 12 February 101 August 21 September 30 Maximum total depreciation deduction Basis $784,000 934,000 72,000 1,503,000 $ 3,293,000 What is the maximum total depreciation deduction that Chaz may deduct in 2023? (Use MACRS Table 1. Table 2. Table 3. Table 4, and Table 5.) Note: Round your intermediate calculations and final answer to the nearest whole dollar amount.
Transcribed Image Text:Chaz Corporation has taxable income in 2023 of $1,312,100 for purposes of computing the $179 expense and acquired the following assets during the year: Asset Office furniture Computer equipment Delivery truck Qualified real property (MACRS, 15 year, 150% DB) Total Placed in 1 Service September 12 February 101 August 21 September 30 Maximum total depreciation deduction Basis $784,000 934,000 72,000 1,503,000 $ 3,293,000 What is the maximum total depreciation deduction that Chaz may deduct in 2023? (Use MACRS Table 1. Table 2. Table 3. Table 4, and Table 5.) Note: Round your intermediate calculations and final answer to the nearest whole dollar amount.
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