Problem 10-61 (LO 10-2, LO 10-3) (Algo) Chaz Corporation has taxable income in 2021 of $312,600 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 $ 786,000 936,000 74,000 1,505,000 $ 3,301,000 What is the maximum total depreciation deduction that Chaz may deduct in 2021? (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.) × Answer is complete but not entirely correct. Maximum total depreciation deduction $ 723,188 x 13
Problem 10-61 (LO 10-2, LO 10-3) (Algo) Chaz Corporation has taxable income in 2021 of $312,600 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 $ 786,000 936,000 74,000 1,505,000 $ 3,301,000 What is the maximum total depreciation deduction that Chaz may deduct in 2021? (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.) × Answer is complete but not entirely correct. Maximum total depreciation deduction $ 723,188 x 13
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Problem 10-61 (LO 10-2, LO 10-3) (Algo)
Chaz Corporation has taxable income in 2021 of $312,600 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
$ 786,000
936,000
74,000
1,505,000
$ 3,301,000
What is the maximum total depreciation deduction that Chaz may deduct in
2021? (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.)
× Answer is complete but not entirely correct.
Maximum total depreciation deduction
$ 723,188 x
13
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