FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Dinesh Bhai 

Chaz Corporation has taxable income in 2023 of $1,312,300 for purposes of computing the $179 expense and acquired the
following assets during the year:
Placed in
Asset
Office furniture
Computer equipment
Delivery truck
Qualified real property (MACRS,
15 year, 150% DB)
Total
Service
September 12
Basis
February 10
August 21
$ 792,000
942,000
September 30
80,000
1,511,000
$ 3,325,000
What is the maximum total depreciation deduction that Chaz may deduct in 2023? (Use MACRS Table 1, Table 2, Table 3, Table 4,
and Table 5.)
Note: Round your intermediate calculations and final answer to the nearest whole dollar amount.
Maximum total depreciation deduction
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Transcribed Image Text:Chaz Corporation has taxable income in 2023 of $1,312,300 for purposes of computing the $179 expense and acquired the following assets during the year: Placed in Asset Office furniture Computer equipment Delivery truck Qualified real property (MACRS, 15 year, 150% DB) Total Service September 12 Basis February 10 August 21 $ 792,000 942,000 September 30 80,000 1,511,000 $ 3,325,000 What is the maximum total depreciation deduction that Chaz may deduct in 2023? (Use MACRS Table 1, Table 2, Table 3, Table 4, and Table 5.) Note: Round your intermediate calculations and final answer to the nearest whole dollar amount. Maximum total depreciation deduction
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