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BK, a calendar year taxpayer, purchased a total of $128,300 tangible personalty in 2021. BK'...

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Accounting

BK, a calendar year taxpayer, purchased a total of $128,300 tangible personalty in 2021. BK' taxable income without regard to a Section 179 deduction was $92,600. Which of the following statements is true? Multiple Choice A.BK can elect to expense the $128,300 cost of the personalty under Section 179 but can deduct only $35,700 of the expense. B.BK can elect to expense only $35,700 of the cost of the personalty under Section 179. C.BK can elect to expense the $128,300 cost of the personalty under Section 179 but can deduct only $92,600 of the expense. D.BK can elect to expense only $92,600 of the cost of the personalty under Section 179.

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