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Columbia LLC placed in service on October 9, 2014 machinery and equipment (7-year property) with a basis of $2,150,000. Assume that Columbia has sufficient income to avoid any limitations. Calculate the maximum depreciation expense including §179 expensing (but ignoring bonus expensing) for the year, rounded to the nearest whole number. Assume the 2013 §179 limits are extended to 2014.
Demonstrator Model
A product, often vehicles, used for demonstrations and usually sold at a discount after serving its purpose.
Collect Like Terms
The method of merging terms in an algebraic expression that possess identical variables elevated to the identical exponent.
Simplify
The process of making something less complicated or easier to understand, often applied in mathematical expressions or complex ideas.
GST Rate
GST Rate refers to the tax rate applied to the sale of goods and services within a country.
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