Olney LLC only purchased one asset this year. Olney LLC placed in service on July 19, 2017 machinery and equipment (7-year property) with a basis of $850,000. Assume that Olney hassufficient income to avoid any limitations. Calculate the maximum depreciation expense including§179 expensing, (but ignoring bonus expensing). (Use MACRS Table 1) (Round final answer to the nearest whole number)

Question

Quizplus · Accepted Answer

The Answer of Olney LLC only purchased one asset this year. Olney LLC placed in service on July 19, 2017 machinery and equipment (7-year property) with a basis of $850,000. Assume that Olney hassufficient income to avoid any limitations. Calculate the maximum depreciation expense including§179 expensing, (but ignoring bonus expensing). (Use MACRS Table 1) (Round final answer to the nearest whole number)

Olney LLC Only Purchased One Asset This Year