White Company Acquires a New Machine (Seven-Year Property)on January 10,2010,at

question 32

Multiple Choice

White Company acquires a new machine (seven-year property) on January 10,2010,at a cost of $900,000.White makes the election to expense the maximum amount under § 179.No election is made to use the straight-line method.If Congress reenacts additional first-year depreciation for 2010,White does elect not to take additional first-year depreciation.Determine the total deductions in calculating taxable income related to the machine for 2010 assuming White has taxable income of $500,000.

• A)$64,000.
• B)$128,610.
• C)$257,175.
• D)$500,000.
• E)None of the above.

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Definitions:

Economic Goal

Objectives or desired outcomes that an economy or individual aims to achieve, often related to growth, stability, and sustainability.

Cultural Goal

The shared objectives or ideals that are valued and pursued by a society or cultural group.

Intelligence Goal

An objective related to the acquisition, improvement, or demonstration of intellectual abilities and knowledge.

Authoritative

A parenting style characterized by high expectations of maturity, clear guidelines and rules, warmth, and responsiveness to children’s needs.