Mad Hatter Enterprises purchased new equipment for $375,000, terms f. o.b. shipping point. Other costs connected with the purchase were as follows: State sales tax $ 30,200 Freight costs 6,600 Insurance while in transit 900 Insurance after equipment placed in service 1,300 Installation costs 2,500 Insurance for the first year of operations 2,900 Testing 800 Required: Determine the capitalized cost of the equipment.

Jacob is a member of wcc (an llc taxed as a partnership). jacob was allocated $155,000 of business income from wcc for the year. jacob’s marginal income tax rate is 37 percent. the business allocation is subject to 2.9 percent of self-employment tax and 0.9 percent additional medicare tax. (round your intermediate calculations to the nearest whole dollar a) what is the amount of tax jacob will owe on the income allocation if the income is not qualified business income? b) what is the amount of tax jacob will owe on the income allocation if the income is qualified business income (qbi) and jacob qualifies for the full qbi duduction?