Jerry opened an art gallery. He bought $300,000 worth of art for the gallery. He is looking at security systems to install at the gallery. One system that most other local galleries use costs $50,000. However, there is a system that many museums use that costs $2 million. What tax considerations should Jerry consider in deciding which system to acquire for his gallery?

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Jerry should consider the tax implications of his purchase decision The choice between the 50000 sec... View the full answer