Black Corporation, a calendar-year taxpayer, has taxable income before depreciation of $2,000,000 for 2023. During the...

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Black Corporation, a calendar-year taxpayer, has taxable income before depreciation of $2,000,000 for 2023. During the year, Black purchased equipment (5-year property) for $300,000 on August 20, 2023 and a manufacturing facility for $1,000,000 on November 3, 2023. Black allocated $800,000 of the manufacturing facility's cost to the building (39-year property) and $200,000 to the land. Both the equipment and manufacturing facility were placed in service at the time of purchase and both were used entirely in Black's business. What is the maximum amount of depreciation that Black Corporation may deduct for these assets in 2023? Please consider all forms of depreciation, including Section 179, first-year bonus, and MACRS. $62,568 $302,568 O $307,704 O $556,800 $1,100,000 Black Corporation, a calendar-year taxpayer, has taxable income before depreciation of $2,000,000 for 2023. During the year, Black purchased equipment (5-year property) for $300,000 on August 20, 2023 and a manufacturing facility for $1,000,000 on November 3, 2023. Black allocated $800,000 of the manufacturing facility's cost to the building (39-year property) and $200,000 to the land. Both the equipment and manufacturing facility were placed in service at the time of purchase and both were used entirely in Black's business. What is the maximum amount of depreciation that Black Corporation may deduct for these assets in 2023? Please consider all forms of depreciation, including Section 179, first-year bonus, and MACRS. $62,568 $302,568 O $307,704 O $556,800 $1,100,000

Answer rating: 100% (QA)

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