Green Lantern, Inc. purchased the following assets in 2021:

Warehouse Building	$700,000
Office Equipment	$697,500
Machinery	$1,102,500
Computer Network	$400,000

1. a. What is Green Lantern’s maximum section 179 deduction for 2021?
2. b. If Green Lantern had business income, prior to depreciation, of $750,000, would that change your answer from part A?

Spiderman, Inc. purchased the following assets in 2021:

Computer System	$700,000
Factory Machines	$697,500
Office Furniture	$1,102,500
Delivery trucks (more than 6,000 lbs)	$400,000

3. c. What is Spiderman’s maximum section 179 deduction for 2021?
4. d. What is the total MACRS and Section 179 deductions for 2021, assuming no bonus depreciation

Answer rating: 100% (QA)

a Green Lanterns maximum section 179 deduction for 2021 is 1000000 b If Green Lantern had busi... View the full answer