Crouch LLC Placed in Service on May 19, 2014 Machinery

question 46

Multiple Choice

Crouch LLC placed in service on May 19, 2014 machinery and equipment (7-year property) with a basis of $2,200,000. Assume that Crouch has sufficient income to avoid any limitations. Calculate the maximum depreciation expense including §179 expensing (but ignoring bonus expensing) . Assume that the 2013 §179 limits are extended to 2014:

• A) $314,380.
• B) $440,000.
• C) $571,510.
• D) $742,930.
• E) None of these.

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Definitions:

Scuba Gear

Equipment used for underwater diving that allows a diver to breathe underwater, typically including items such as a mask, fins, regulator, and an air tank.

Sherman Act

A landmark federal statute in the field of antitrust law in the United States that prohibits monopolistic practices and promotes competition.

Antitrust Violation

An act or practice that significantly interferes with competitive processes in a marketplace, contrary to antitrust law.

Tour Business

A company or service provider engaged in organizing and facilitating travel and tourism activities for individuals or groups.