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The books of EZ Company, a calendar year taxpayer, had the following assets and related information as of December 31, 2011. EZ's policy is to record depreciation on December 31 by way of a journal entry. EZ also takes advantage of any early write-offs of its purchased assets allowed by law. Based on the information given calculate EZ's maximum depreciation deduction for 2011. The tools purchased are second hand tools and its taxable income for the year is $1,000,000.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9415393

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