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Section 179 of the Internal Revenue Code empowers businesses to deduct the full purchase price of qualifying equipment in the same tax year they’re put into service.
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Potomac LLC purchased an automobile for 30,000 on August 5, 2023. What is Potomac's depreciation deduction for 2023? (Ignore any possible bonus depreciation.) (Use MACRS Table 1 and Exhibit 10-10.)Multiple Choice12,2004,2876,00030,000None of the choices are correct.
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