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Based on the 2022 tax rules On October 24th of this year, Saul acquired and...

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Accounting

Based on the 2022 tax rules

On October 24th of this year, Saul acquired and placed into service 7-year business equipment costing $80,000. In addition, on April 18th of this year, Saul had also placed in business use 5-year recovery property costing $15,000. Saul elected to apply Sec. 179 immediate expensing to the 7-year asset, but not the 5-year asset. He elected out of bonus depreciation. No other assets were purchased during the year. The total depreciation (179 and bonus) for this year is: A) $80,000. B) $83,750. C) $83,000. D) $80,750.

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