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Problem 2-61 (LO 2-2, LO 2-3) (Algo) Chaz Corporation has taxable income in 2024 of $1,312,650 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 Service September 12 Basis $ 806,000 February 10 956,000 August 21 94,000 September 30 1,525,000 $ 3,381,000 What is the maximum total depreciation deduction that Chaz may deduct in 2024? (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. Maximum total depreciation deduction

Problem 2-61 (LO 2-2, LO 2-3) (Algo) Chaz Corporation has taxable income in 2024 of $1,312,650 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 Service September 12 Basis $ 806,000 February 10 956,000 August 21 94,000 September 30 1,525,000 $ 3,381,000 What is the maximum total depreciation deduction that Chaz may deduct in 2024? (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. Maximum total depreciation deduction

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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Problem 2-61 (LO 2-2, LO 2-3) (Algo) Chaz Corporation has taxable income in 2024 of $1,312,650 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 Service September 12 Basis $ 806,000 February 10 956,000 August 21 94,000 September 30 1,525,000 $ 3,381,000 What is the maximum total depreciation deduction that Chaz may deduct in 2024? (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. Maximum total depreciation deduction
Transcribed Image Text:Problem 2-61 (LO 2-2, LO 2-3) (Algo) Chaz Corporation has taxable income in 2024 of $1,312,650 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 Service September 12 Basis $ 806,000 February 10 956,000 August 21 94,000 September 30 1,525,000 $ 3,381,000 What is the maximum total depreciation deduction that Chaz may deduct in 2024? (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. Maximum total depreciation deduction
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