Sid bought a new 700000 seven-year class asset on august 2, Ask an Expert

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Sid bought a new $700,000, seven-year class asset on August 2, 2011. On December 2, 2011, he purchased $160,000 of used five-year class assets. If Congress reenacts additional first-year depreciation for 2011, Sid elects not to take additional first-year depreciation. If Sid elects § 179, what is the maximum write-off for these purchases for 2011?

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Category:- Basic Finance
Reference No.:- M9792262

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