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What is the amount of section depreciation allowable

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Reference no: EM132816032

Problem 1: In 2020, ABC Inc. has net income of $650,000 before depreciation and has purchased one used piece of equipment during the year for $1,200,000. What is the amount of Section 179 depreciation allowable?

A. $0 for used equipment.
B. $650,000
C. $1,020,000
D. $1,200,000

Reference no: EM132816032

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