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What is the amount that will be claimed as a tax deduction

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Reference no: EM132421054

A project requires the purchase of new equipment at a cost of $14,000, which will be depreciated over the life of the asset. A further $5000 spent on transport and installation will be added to the purchase price of the equipment for depreciation purposes, and $3000 will be spent on advertising and other operating expenditure to get the project up and running.

Excluding depreciation, what is the amount that will be claimed as a tax deduction in Year 1?

Reference no: EM132421054

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