White Company Acquires a New Machine (Seven-Year Property) on January

question 33

Multiple Choice

White Company acquires a new machine (seven-year property) on January 10, 2017, at a cost of $610,000. White makes the election to expense the maximum amount under § 179, and wants to take any additional first-year depreciation allowed. No election is made to use the straight-line method. Determine the total deductions in calculating taxable income related to the machine for 2017 assuming White has taxable income of $800,000.

• A)$87,169
• B)$348,585
• C)$510,000
• D)$524,290
• E)None of the above

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