High Tech Enterprises purchased a patent from Aerospace industries for $600,000 on 4/19/2014. Aerospace was granted his
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Question:
High Tech Enterprises purchased a patent from Aerospace industries for $600,000 on 4/19/2014. Aerospace was granted his original patent 7 years ago from the US patent office. How much amortization deduction will High Tech have on its 2014 income tax return due to this purchase?
a. 120,000
b. 60,000
c. 45,000
d. 42,500
e. None of the above
Expert Answer:
Answer The maximum Section 179 expense deduction is 1050000 Its reduced dollarfordollar for quali... View the full answer
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