mary is starting her own horse racing and breeding farm in paducah, KY in the current year. She purchased the following assets on April 28: one year old filly= 4380, machinery= 34800, light duty truck= 44200, and land=67200. If mary does not elect section 179 or use bonus depreciation, what is her first year depreciation deduction?
mary is starting her own horse racing and breeding farm in paducah, KY in the current year. She purchased the following assets on April 28: one year old filly= 4380, machinery= 34800, light duty truck= 44200, and land=67200. If mary does not elect section 179 or use bonus depreciation, what is her first year depreciation deduction?
Chapter5: Introduction To Business Expenses
Section: Chapter Questions
Problem 35P
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Transcribed Image Text:mary is starting her own horse racing and breeding farm in paducah, KY in the current year.
She purchased the following assets on April 28: one year old filly=4380, machinery= 34800,
light duty truck= 44200, and land=67200. If mary does not elect section 179 or use bonus
depreciation, what is her first year depreciation deduction?
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