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Chipper, a calendar-year corporation, purchased new machinery for $1,135,000 in February 2018. In October, it purchased $2,105,000...

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Accounting

Chipper, a calendar-year corporation, purchased new machineryfor $1,135,000 in February 2018. In October, it purchased$2,105,000 of used machinery. What was Chipper’s maximum costrecovery deduction for 2018?

Question 1 options:

1) $1,243,621

2) $3,240,000

3) $1,038,114

4) $577,226

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