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QUESTION
If a company purchased a 6,500 pound SUV on June 1, 2010 for use in tis business. the SUV with a cost basis of 29,000, has a 5-year estimated life....
If a company purchased a 6,500 pound SUV on June 1, 2010 for use in tis business. the SUV with a cost basis of 29,000, has a 5-year estimated life. It also is 5-year recovery property. How much depreciation and Section 179 expense should be taken on the SUV for the calendar tax year, assuming the company wishes to maximize its deduction? Do not consider bonus depreciation
