Roger started a new business in 2016 and purchases 3 year class property on February...
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Roger started a new business in 2016 and purchases 3 year class property on February 14, 2016 in the amount of $120,000. On July 15, 2016, Roger purchases five year class property in the amount of $185,000. On December 15, 2016, Roger purchases $1,900,000 of 7 year class property. Assume Roger has $5,000,000 of net business income before consideration of any 179 deduction . Also assume that Roger does not elect straight-line depreciation.
C. Assuming a marginal tax rate of 39.6%, determine the tax benefit from electing 179
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