Nancy purchased new business computers (3-year property) in January for a total of $1,550,000. She plans to take advantage of §179 expensing and MACRS depreciation (but not first year additional depreciation). What is the total amount of these cost recovery deductions for the year?
Nancy purchased new business computers (3-year property) in January for a total of $1,550,000. She plans to take advantage of §179 expensing and MACRS depreciation (but not first year additional depreciation). What is the total amount of these cost recovery deductions for the year?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![Nancy purchased new business
computers (3-year property) in
January for a total of $1,550,000.
She plans to take advantage of §179
expensing and MACRS depreciation
(but not first year additional
depreciation). What is the total
amount of these cost recovery
deductions for the year?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F7d2d698d-09ca-4644-acfc-cb348702643f%2F537ac07f-3422-408e-b998-c3e389034c75%2Fw2o2bpc_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Nancy purchased new business
computers (3-year property) in
January for a total of $1,550,000.
She plans to take advantage of §179
expensing and MACRS depreciation
(but not first year additional
depreciation). What is the total
amount of these cost recovery
deductions for the year?
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