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What will the amount of mainstream macrs deduction be

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Problem 1: Mainstream Company purchased depreciable equipment in 2020 for $1,063,000 and claimed the maximum Sec. 179 deduction for that year of $1,040,000. The equipment qualified as 5-year property under MACRS. Mainstream sold all of this equipment on June 30, 2021. The depreciation rates for 5-year property for the first 2 years under MACRS, assuming 200%-declining-balance switching to straight-line, are 20% and 32%, respectively. What will the amount of Mainstream's MACRS deduction be for 2021?

Option 1: $7,360
Option 2: $0
Option 3: $23,000
Option 4: $3,680

Reference no: EM132843498

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