Wildhorse operates a restaurant in Chicago. In March 2023, Wildhorse invested in a new interior heating and cooling system as well as a new interior fire alarm system to its existing commercial property. The total purchase price for these improvements is $1,514,000. Assume that Wildhorse has taxable income before Section 179 of $1,328,000. What is Wildhorse's total cost recovery in 2023, assuming it elects Section 179 but does not use bonus depreciation? Total cost recovery +A 1160000

Wildhorse operates a restaurant in Chicago. In March 2023, Wildhorse invested in a new interior heating and cooling system as well as a new interior fire alarm system to its existing commercial property. The total purchase price for these improvements is $1,514,000. Assume that Wildhorse has taxable income before Section 179 of $1,328,000. What is Wildhorse's total cost recovery in 2023, assuming it elects Section 179 but does not use bonus depreciation? Total cost recovery +A 1160000

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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