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Total depreciation deduction

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Reference no: EM131068126

Terra Corporation, a calendar-year taxpayer, purchases and places into service machinery with a 7-year life that cost $157,000. The mid-quarter convention does not apply, and the property is not eligible for bonus depreciation. Terra elects to depreciate the maximum under Sec. 179. Terra's taxable income for the year before the Sec. 179 deduction is $700,000. What Terra's total depreciation deduction related to this property?

Reference no: EM131068126

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