Nancy purchased new business computers (3-year property) in January for a total of $1,550,000. She plans to take advantage of §179 expensing and MACRS depreciation (but not first year additional depreciation). What is the total amount of these cost recovery deductions for the year?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Nancy purchased new business
computers (3-year property) in
January for a total of $1,550,000.
She plans to take advantage of §179
expensing and MACRS depreciation
(but not first year additional
depreciation). What is the total
amount of these cost recovery
deductions for the year?
Transcribed Image Text:Nancy purchased new business computers (3-year property) in January for a total of $1,550,000. She plans to take advantage of §179 expensing and MACRS depreciation (but not first year additional depreciation). What is the total amount of these cost recovery deductions for the year?
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Section 179 Deduction and Modified Accelerated Cost Recovery System (MACRS) Depreciation
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