Question: Lars acquired a new network system on June 5, 2023 (five-year class property), for $75,000. She expects taxable income from the business will always

Lars acquired a new network system on June 5, 2023 (five-year class

Lars acquired a new network system on June 5, 2023 (five-year class property), for $75,000. She expects taxable income from the business will always be about $175,000 without regard to the $179 election. Lars will elect $179 expensing. She also acquired seven- year property in July 2023 for $350,000. (Use Table 6A-1) Required: Determine Lars's maximum cost recovery deduction with respect to her purchases in 2023. Answer is complete but not entirely correct. Lars's maximum cost recovery deduction $ 125,015 X

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