Calculate the maximum depreciation expense including $179 expensing (but ignoring bonus depreciation) for the following asset...

 

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Calculate the maximum depreciation expense including $179 expensing (but ignoring bonus depreciation) for the following asset purchase: Machinery (7 year asset) purchased on March 22 for $2,362,000. Assume there is sufficient net income to avoid any limitation. Round to the nearest whole number. This year, PTR Company purchased only one asset, a printing machine on March 3. PTR Company paid $28,000 for the machinery. Calculate the maximum depreciation expense (rounded) for the current year (ignoring $179 and bonus depreciation) : Calculate the maximum depreciation expense including $179 expensing (but ignoring bonus depreciation) for the following asset purchase: Machinery (7 year asset) purchased on March 22 for $2,362,000. Assume there is sufficient net income to avoid any limitation. Round to the nearest whole number. This year, PTR Company purchased only one asset, a printing machine on March 3. PTR Company paid $28,000 for the machinery. Calculate the maximum depreciation expense (rounded) for the current year (ignoring $179 and bonus depreciation) :

Answer rating: 100% (QA)

QUESTION 1 Mar22 Amount in Cost 236200000 Useful life in years 7 Already expensed ... View the full answer