Lori, who is single, purchased 5-year class property for $200,000 and 7-year class property for $420,000 on may 20, 2019. lori expects the taxable income derived from her business (without regard to the amount expensed under § 179) to be about $550,000. lori has determined that she should elect immediate § 179 expensing in the amount of $520,000, but she doesn't know which asset she should completely expense under § 179. she does not claim any available additional first-year depreciation. determine lori's total cost recovery deduction if the s 179 expense is first taken with respect to the 5-year class asset.

Juniper company uses a perpetual inventory system and the gross method of accounting for purchases. the company purchased $9,750 of merchandise on august 7 with terms 1/10, n/30. on august 11, it returned $1,500 worth of merchandise. on august 26, it paid the full amount due. the correct journal entry to record the merchandise return on august 11 is:

Consider the market for gasoline. suppose that, in a competitive market without government regulations, the equilibrium price of gasoline is $3.00 per gallon, and employees at gas stations earn $17.50 per hour. complete the following table by indicating whether each of the statements is an example of a price ceiling or a price floor and whether it results in a shortage or a surplus or has no effect on the price and quantity that prevail in the market. statement price control effect the government has instituted a legal minimum price of $3.40 per gallon for gasoline. the government prohibits gas stations from selling gasoline for more than $3.40 per gallon. due to new regulations, gas stations that would like to pay better wages in order to hire more workers are prohibited from paying more than $14.50 per hour.

True or false: a fitted model with more predictors will necessarily have a lower training set error than a model with fewer predictors.