Calculate L’s total cost recovery deduction, if §179 expense first taken to the 5-year class property .

Question

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Answer 1

Question

Chapter 8, Problem 41P

a.

To determine

Calculate L’s total cost recovery deduction, if §179 expense first taken to the 5-year class property.

b.

To determine

Calculate L’s total cost recovery deduction, if §179 expense first taken to the 7-year class property.

c.

To determine

Recommend the advice to L.

d.

To determine

Calculate the present value of the tax savings from the cost recovery deductions for both assets.

e.

To determine

Calculate the present value of the tax savings from the cost recovery deductions for both assets, if §179 expense is not taken for either assets. Also, choose the best option for L.

f.

To determine

Show the solution of Part (d) and Part (e) in a spreadsheet using excel formula.

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Answer 2

Question

Chapter 8, Problem 41P

a.

To determine

Calculate L’s total cost recovery deduction, if §179 expense first taken to the 5-year class property.

b.

To determine

Calculate L’s total cost recovery deduction, if §179 expense first taken to the 7-year class property.

c.

To determine

Recommend the advice to L.

d.

To determine

Calculate the present value of the tax savings from the cost recovery deductions for both assets.

e.

To determine

Calculate the present value of the tax savings from the cost recovery deductions for both assets, if §179 expense is not taken for either assets. Also, choose the best option for L.

f.

To determine

Show the solution of Part (d) and Part (e) in a spreadsheet using excel formula.

Expert Solution & Answer

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Check out a sample textbook solution

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Answer 3

Question

Chapter 8, Problem 41P

a.

To determine

Calculate L’s total cost recovery deduction, if §179 expense first taken to the 5-year class property.

b.

To determine

Calculate L’s total cost recovery deduction, if §179 expense first taken to the 7-year class property.

c.

To determine

Recommend the advice to L.

d.

To determine

Calculate the present value of the tax savings from the cost recovery deductions for both assets.

e.

To determine

Calculate the present value of the tax savings from the cost recovery deductions for both assets, if §179 expense is not taken for either assets. Also, choose the best option for L.

f.

To determine

Show the solution of Part (d) and Part (e) in a spreadsheet using excel formula.

Expert Solution & Answer

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Check out a sample textbook solution

See solution

Answer 4

Question

Chapter 8, Problem 41P

a.

To determine

Calculate L’s total cost recovery deduction, if §179 expense first taken to the 5-year class property.

b.

To determine

Calculate L’s total cost recovery deduction, if §179 expense first taken to the 7-year class property.

c.

To determine

Recommend the advice to L.

d.

To determine

Calculate the present value of the tax savings from the cost recovery deductions for both assets.

e.

To determine

Calculate the present value of the tax savings from the cost recovery deductions for both assets, if §179 expense is not taken for either assets. Also, choose the best option for L.

f.

To determine

Show the solution of Part (d) and Part (e) in a spreadsheet using excel formula.

Expert Solution & Answer

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Check out a sample textbook solution

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Answer 5

Chapter 8, Problem 41P

a.

To determine

Calculate L’s total cost recovery deduction, if §179 expense first taken to the 5-year class property.

b.

To determine

Calculate L’s total cost recovery deduction, if §179 expense first taken to the 7-year class property.

c.

To determine

Recommend the advice to L.

d.

To determine

Calculate the present value of the tax savings from the cost recovery deductions for both assets.

e.

To determine

Calculate the present value of the tax savings from the cost recovery deductions for both assets, if §179 expense is not taken for either assets. Also, choose the best option for L.

f.

To determine

Show the solution of Part (d) and Part (e) in a spreadsheet using excel formula.

Answer 6

Chapter 8, Problem 41P

a.

To determine

Calculate L’s total cost recovery deduction, if §179 expense first taken to the 5-year class property.

Answer 7

Chapter 8, Problem 41P

a.

To determine

Calculate L’s total cost recovery deduction, if §179 expense first taken to the 5-year class property.

Answer 8

b.

To determine

Calculate L’s total cost recovery deduction, if §179 expense first taken to the 7-year class property.

Answer 9

b.

To determine

Calculate L’s total cost recovery deduction, if §179 expense first taken to the 7-year class property.

Answer 10

c.

To determine

Recommend the advice to L.

Answer 11

c.

To determine

Recommend the advice to L.

Answer 12

d.

To determine

Calculate the present value of the tax savings from the cost recovery deductions for both assets.

Answer 13

d.

To determine

Calculate the present value of the tax savings from the cost recovery deductions for both assets.

Answer 14

e.

To determine

Calculate the present value of the tax savings from the cost recovery deductions for both assets, if §179 expense is not taken for either assets. Also, choose the best option for L.

Answer 15

e.

To determine

Calculate the present value of the tax savings from the cost recovery deductions for both assets, if §179 expense is not taken for either assets. Also, choose the best option for L.

Answer 16

f.

To determine

Show the solution of Part (d) and Part (e) in a spreadsheet using excel formula.

Answer 17

f.

To determine

Show the solution of Part (d) and Part (e) in a spreadsheet using excel formula.

Answer 18

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Answer 19

Expert Solution & Answer

Answer 20

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Answer 21

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Calculate L’s total cost recovery deduction, if §179 expense first taken to the 5-year class property .

Solution Summary: The author calculates L's total cost recovery deduction, if 179 expense first taken to the 5-year class property.

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Calculate L’s total cost recovery deduction, if §179 expense first taken to the 5-year class property.

Calculate L’s total cost recovery deduction, if §179 expense first taken to the 7-year class property.

Recommend the advice to L.

Calculate the present value of the tax savings from the cost recovery deductions for both assets.

Calculate the present value of the tax savings from the cost recovery deductions for both assets, if §179 expense is not taken for either assets. Also, choose the best option for L.

Show the solution of Part (d) and Part (e) in a spreadsheet using excel formula.

Want to see the full answer?

Chapter 8 Solutions