Terra corporation a calendar-year taxpayer purchases and


Terra Corporation, a calendar-year taxpayer, purchases and places into service machinery with a 7-year life that cost $125,000. The mid-quarter convention does not apply. Terra elects to depreciate the maximum under Sec. 179. Terra's taxable income for the year before the Sec. 179 deduction is $700,000. What is Terra's total depreciation deduction related to this property?

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Financial Accounting: Terra corporation a calendar-year taxpayer purchases and
Reference No:- TGS01586500

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