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 has sufficient income to avoid any limitations.Calculate the maximum depreciation expense including §179 expensing,(but ignoring bonus expensing).(Use MACRS Table 1 in the text)(Round final answer to the nearest whole number)

Question

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 has sufficient income to avoid any limitations.Calculate the maximum depreciation expense including §179 expensing,(but ignoring bonus expensing).(Use MACRS Table 1 in the text)(Round final answer to the nearest whole number)

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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 has sufficient income to avoid any limitations.Calculate the maximum depreciation expense including §179 expensing,(but ignoring bonus expensing).(Use MACRS Table 1 in the text)(Round final answer to the nearest whole number)

Olney LLC Only Purchased One Asset This Year