Rex's Wrecks purchased $1,650,000 i new equipment, year property) during 2022. Rex wants to use Section 179 to expense the maximum amount of the purchase. Assuming no limitations due to net income restrictions, Rex can expense________ under Section 179, S_____ in bonus depreciation, and S_______ in regular MACRS depreciation (rounded to nearest dollar)

Rex's Wrecks purchased $1,650,000 i new equipment, year property) during 2022. Rex wants to use Section 179 to expense the maximum amount of the purchase. Assuming no limitations due to net income restrictions, Rex can expense______ under Section 179, S_ in bonus depreciation, and S_____ in regular MACRS depreciation (rounded to nearest dollar)

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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A-7

Rex's Wrecks purchased $1,650,000 i new equipment, year property) during 2022. Rex wants to use Section
179 to expense the maximum amount of the purchase. Assuming no limitations due to net income restrictions,
Rex can expense_____ under Section 179, $______ in bonus depreciation, and S____ in regular MACRS
depreciation (rounded to nearest dollar)

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Section 179 Deduction and Modified Accelerated Cost Recovery System (MACRS) Depreciation

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