Question: In 2 0 2 3 , Peter Quill had a 1 7 9 deduction carryover of $ 4 0 , 0 0 0 . In

In 2023, Peter Quill had a 179 deduction carryover of $40,000. In 2024, Peter elected 179 for an asset acquired at a cost of $120,000. Peter's 179 business income limitation for 2024 is $130,000. Determine Peters 179 deduction for 2024. a. $25,000 b. $115,000 c. $130,000 d. $140,000

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