Orange Corporation acquired new office furniture on August 15, 2022, for $130,000. Orange does not elect immediate

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Orange Corporation acquired new office furniture on August 15, 2022, for $130,000. Orange does not elect immediate expensing under § 179. Orange claims any available additional first-year depreciation.

a. Determine Orange’s cost recovery for 2022.

b. How would your answer change if Orange decided to use $52,000 of bonus depreciation and use normal MACRS on the balance of the acquisition cost?

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South Western Federal Taxation 2023 Comprehensive Volume

ISBN: 9780357719688

46th Edition

Authors: Annette Nellen, Andrew D. Cuccia, Mark Persellin, James C. Young

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Question Posted: Sep 24, 2023 06:49 AM

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Orange Corporation acquired new office furniture on August 15, 2022, for $130,000. Orange does not elect immediate

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a The office furniture qualifies for additional firstyear deprec...View the full answer

South Western Federal Taxation 2023 Comprehensive Volume

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