On august 2 2016 amy purchased used equipment 5-year macrs, Ask an Expert

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On August 2, 2016, Amy purchased used equipment (5-year MACRS property, first year depreciation is 20% ) for her business that cost $2,350,000. What is Amy’s maximum allowable cost recovery deduction for 2016 on the equipment if this is her only purchase of equipment for 2016? She elects out of bonus depreciation. Please show your work.

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Financial Management, Finance

Category:- Financial Management
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