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During 2019, William purchases the following capital assets for use in his catering business: New passenger...

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Accounting

During 2019, William purchases the following capital assets foruse in his catering business: New passenger automobile (September30) $58,200 Baking equipment (June 30) 17,460 Assume that Williamdecides to use the election to expense on the baking equipment (andhas adequate taxable income to cover the deduction) but not on theautomobile (which has a 5-year recovery period), and he also usesthe MACRS accelerated method to calculate depreciation but electsout of bonus depreciation. Assume he has adequate taxable income.Click here to access the depreciation table and click here toaccess the annual automobile depreciation limitations. CalculateWilliam's maximum depreciation deduction for 2019, assuming he usesthe automobile 100 percent in his business. $

Answer & Explanation Solved by verified expert
4.3 Ratings (737 Votes)
Given Information 1 Baking equipment purchased on June 30 2019 at 17460 2 New passenger automobile purchased on September 30    See Answer
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