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Business, 19.07.2019 06:00 mommytobe2019

On january 2, 2017, orange corporation purchased equipment for $300,000 with an ads recovery period of 10 years and a macrs useful life of 7 years. section 179 was not elected. macrs depreciation properly claimed on the asset, including depreciation in the year of sale, totaled $79,605. the equipment was sold on july 1, 2018, for $290,000. as a result of the sale, the adjustment to taxable income needed to arrive at current e & p is:

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On january 2, 2017, orange corporation purchased equipment for $300,000 with an ads recovery period...
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