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Compute maximum tax depreciation

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Reference no: EM132561338

Question - In 2016, Fast Money, Inc. purchases only one asset: new machinery (5-year property) for $850,000. Fast Money takes the maximum Section 179 deduction.

Required -

a. Compute maximum tax depreciation for 2016-2021.

b. Compute maximum tax depreciation for 2016-2021 if Fast Money had purchased used machinery.

Reference no: EM132561338

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