Everest Corp.acquires a machine (seven-year property)on January 10,2015 at a cost of $212,000.Everest makes the election to expense the maximum amount under Sec.179.
a.Assume that the taxable income from trade or business is $500,000. b.Assume instead that the taxable income from trade or business is $10,000.

Question

Everest Corp.acquires a machine (seven-year property)on January 10,2015 at a cost of $212,000.Everest makes the election to expense the maximum amount under Sec.179.
a.Assume that the taxable income from trade or business is $500,000.  b.Assume instead that the taxable income from trade or business is $10,000.

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The Answer of Everest Corp.acquires a machine (seven-year property)on January 10,2015 at a cost of $212,000.Everest makes the election to expense the maximum amount under Sec.179.
a.Assume that the taxable income from trade or business is $500,000.  b.Assume instead that the taxable income from trade or business is $10,000.