Terra Corporation, a calendar-year taxpayer, purchases and places into service in 2019 machinery with a...
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Accounting
Terra Corporation, a calendar-year taxpayer, purchases and places into service in 2019 machinery with a 7-year life that cost $650,000. The mid-quarter convention does not apply and Terra chooses to not use bonus depreciation. Terras taxable income for the year before the Sec. 179 deduction is $600,000. What is Terras total depreciation deduction related to this property?
a. $650,000
b. $600,000
c. $92,885
d. $500,000
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