Exercise 8-26 (Algorithmic) (LO. 3) McKenzie purchased qualifying equipment for his business that cost $383,700 in 2019. The taxable income of the business for the year is $36,700 before consideration of any $ 179 deduction If an amount is zero, enter "o". a. Calculate McKenzie's $ 179 expense deduction for 2019 and any carryover to 2020. $ 179 expense deduction for 2019: $ $ 179 carryover to 2020: $ b. How would your answer change if McKenzie decided to use additional first-year (bonus) depreciation on the equipment instead of using 5 179 expensing? Hint: See Concept Summary 8.5. $ 179 expense deduction for 2019: $ $ 179 carryover to 2020: Check My Work more Check My Work uses remaining Previous Next