Current Attempt in Progress A company has purchased $2,060,000 in Section 179-qualifying property during the...
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Current Attempt in Progress A company has purchased $2,060,000 in Section 179-qualifying property during the year. In addition to using the Section 179 expense deduction, it wishes to use 50% bonus depreciation. Being in the offshore oil and gas business, all such assets are MACRS 5- year property. What will be the tax savings in year 1 as compared to simple MACRS depreciation without Section 179 and 50% bonus depreciation? O $257,040 O $306,000 O $156,000 O $276.000
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