Essay
Sid bought a new $700,000 seven-year class asset on August 2,2010.On December 2,2010,he purchased $160,000 of used five-year class assets.If Congress reenacts additional first-year depreciation for 2010,Sid elects not to take additional first-year depreciation.If Sid elects § 179,what is the maximum write-off for these purchases for 2010?
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Seven-year property:
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