NLT Inc Purchased Only One Item of Tangible Personalty in 2013

question 75

True/False

NLT Inc. purchased only one item of tangible personalty in 2013. The cost of the item was $124,000. NLT's taxable income before any Section 179 deduction was $77,100. NLT can elect Section 179 for only $77,100 of the cost of the property.