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Chaz Corporation has taxable income in 2016 of $437,000 before the §179 expense and acquired the following assets during the year:
Placed in
Asset
Service
Basis
Office furniture
September 12
$
1,130,000
Computer equipment
February 10
906,000
Delivery truck
August 21
53,000
Total
2,089,000
What is the maximum total depreciation expense that Chaz may deduct in 2016?
Determine the amount of retained earnings as of December 31, 2013.
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