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-In April 2018, Kevin acquired a machine for $50,000 for use in his business. The...

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Accounting

-In April 2018, Kevin acquired a machine for $50,000 for use in his business. The machine is classified as 7-year property. Kevin does not expense the asset under Sec. 179 or bonus depreciation. Kevin's depreciation on the machine for 2018 is

A) $30,000.

B) $50,000.

C) $7,145.

D) $8,574.

-Chunwei acquired and placed in service $1,250,000 of equipment on August 1, 2018 for use in her sole proprietorship. The equipment is 5-year recovery property. No other acquisitions are made during the year. Chunwei elects to expense the maximum amount under Sec. 179, and bonus depreciation is not applied. Chunwei's total deductions for 2018 (including Sec. 179 and depreciation) are

A) $1,233,000.

B) $233,000.

C) $1,165,000.

D) $1,033,000.

-Ahmed purchases and places in service in 2018 personal property costing $2,563,000. The taxpayer plans to apply the Sec. 179 deduction, but not bonus depreciation. What is the maximum Sec. 179 deduction that Ahmed can deduct, ignoring any taxable income limitation?

A) $2,500,000

B) $937,000

C) $1,000,000

D) $2,563,000

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