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. 
Definitions:
School
An institution for educating children and young people, often consisting of various levels such as elementary, middle, and high school.
Behaviorism
A school of psychology that focuses on observable behaviors as the subject of study, negating the need to consider internal mental states.
Theories
Systematic sets of ideas intended to explain phenomena or concepts, providing frameworks for understanding observations and making predictions.
John B. Watson
An American psychologist who established the psychological school of behaviorism, emphasizing the importance of observable behaviors over internal mental states.
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