Essco inc., a calendar year taxpayer, made two asset purchases this year. the first purchase was a machine costing $836,000, and the second purchase was equipment costing $494,000. both assets are 7-year recovery property. essco placed the machine in service on july 21 and the equipment in service on october 14. how many months of macrs depreciation is essco allowed for each asset this year?
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Essco inc., a calendar year taxpayer, made two asset purchases this year. the first purchase was a m...
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