Question: Bromley Construction (calendar year end C Corp.) expanded rapidly during the last half of the year. They have record income and want to maximuze cost

Bromley Construction (calendar year end C Corp.) expanded rapidly during the last half of the year. They have record income and want to maximuze cost recovery deduction for the current year.

New Equipment/Tools placed in Service August 20 with a basis of $3.8M

Used Light-duty Trucks placed in Service October 17 with a basis of $2.0M

Used Machinery placed in service November 6 with a basis of $1.525M

The used trucks and used machinery were given to the business by its owner in a tax-deferred transaction two years ago.

What is Bromley's maximum cost recovery deduction in the current year?

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