Kondar Corporation (a calendar-year taxpayer) spent $2,060,000 to purchase used machinery in February 2016. a. What is

Question:

Kondar (a calendar-year taxpayer) spent $2,060,000 to purchase used machinery in February 2016.
a. What is the maximum that Kondar can elect to expense under Section 179?
b. What is the basis for calculating regular MACRS depreciation on this machinery if the maximum Section 179 deduction is elected?
c. What is Kondar's total depreciation deduction for 2016?
d. What is Kondar's depreciation deduction for this machinery for next year?
Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...