Which of the following assets purchased in the current year are eligible to be expensed under Section 179 assuming the cost does NOT exceed the limitations? a. Rex’s Wrecks purchased $561,000 in new equipment during 2017. Rex wants to use Section 179 to expense the maximum amount of the purchase. How much will Rex get to expense under Section 179 and what will be the adjusted basis of the assets for calculating MACRS depreciation expense?
b. Rambo Manufacturing Co. purchased $2,055,000 in new production equipment during the current year. All of the equipment was purchased in June. What is the maximum depreciation deduction Rambo can take this year?

c. Rex’s Wrecks purchased $150,000 in new equipment during the current year. Rex used Section 179 to expense the maximum amount of the purchase. From the following choices, how much did Rex get to expense under Sec.179, assuming the gross income from his business is $1,200,000 and his expenses (including MACRS depreciation) other than Section 179 were $1,150,000?