Clay LLC placed in service machinery and equipment (seven-year property) with a basis of $3,469,000 on June 6, 2021. Assume that Clay has sufficient income to avoid any limitations. Calculate the maximum depreciation expense including $179 expensing (ignoring any possible bonus depreciation). (Use MACRS Table 1.) (Round final answer to the nearest whole number.)
Clay LLC placed in service machinery and equipment (seven-year property) with a basis of $3,469,000 on June 6, 2021. Assume that Clay has sufficient income to avoid any limitations. Calculate the maximum depreciation expense including $179 expensing (ignoring any possible bonus depreciation). (Use MACRS Table 1.) (Round final answer to the nearest whole number.)
Chapter8: Depreciation, Cost Recovery, Amortization, And Depletion
Section: Chapter Questions
Problem 23CE
Related questions
Question
![Clay LLC placed in service machinery and equipment (seven-year property) with a basis of $3,469,000 on June 6,
2021. Assume that Clay has sufficient income to avoid any limitations. Calculate the maximum depreciation expense
including §179 expensing (ignoring any possible bonus depreciation). (Use MACRS Table 1.) (Round final answer to
the nearest whole number.)
Multiple Choice
$1,050,000
$498.435](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F37b57dc3-6ce2-496a-8c32-489a3dcf3dd7%2F705f92d9-80f7-43bd-bf7c-391e6db57b63%2F11a18d_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Clay LLC placed in service machinery and equipment (seven-year property) with a basis of $3,469,000 on June 6,
2021. Assume that Clay has sufficient income to avoid any limitations. Calculate the maximum depreciation expense
including §179 expensing (ignoring any possible bonus depreciation). (Use MACRS Table 1.) (Round final answer to
the nearest whole number.)
Multiple Choice
$1,050,000
$498.435
![O
O
O
$498,435
$466,997
$667,997
None of the choices are correct.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F37b57dc3-6ce2-496a-8c32-489a3dcf3dd7%2F705f92d9-80f7-43bd-bf7c-391e6db57b63%2Frg7q7xq_processed.jpeg&w=3840&q=75)
Transcribed Image Text:O
O
O
$498,435
$466,997
$667,997
None of the choices are correct.
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