Question: Exercise 8-26 (Algorithmic) (LO. 3) McKenzie purchased qualifying equipment for his business that cost $399,600 in 2016. The taxable income of the business for the

Exercise 8-26 (Algorithmic) (LO. 3) McKenzie purchased qualifying equipment for his business that cost $399,600 in 2016. The taxable income of the business for the year is $118,300 before consideration of any 179 deduction.

McKenzies 179 expense deduction is $?? for 2016. His 179 carryover to 2017 is $??

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