22. White Company acquires a new machine (seven-year property) on January 10, 2023 , at...
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22. White Company acquires a new machine (seven-year property) on January 10, 2023 , at a cost of $620,000. White makes the election to expense the maximum amount under 179, and wants to take any additional first-year depreciation allowed (bonus). No election is made to use the straight-line method. Determine the total deductions in calculating taxable income related to the machine for 2023 , assuming that White reports taxable income of $800,000. a) $88,598 b) $301,159 c) $568,574 d) $620,000
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