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  3. in 2014, firm l purchases machinery costing $21,30

In 2014, firm L purchases machinery costing $21,300 and elected to expense the entire cost...

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Accounting

In 2014, firm L purchases machinery costing $21,300 and elected to expense the entire cost under section 179. How much of the expense can firm L deduct in each of the following cases?

a. Its taxable income before the deduction was $58,000.

b. Its taxable income before the deduction was $19,200.

c. Its net operating loss (NOL) before the deduction was $5,016

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