In 2016, gail had a § 179 deduction carryover of $30,000. in 2017, she elected § 179 for an asset acquired at a cost of $115,000. gail's § 179 business income limitation for 2017 is $140,000. determine gail's § 179 deduction for 2017.
a. $25,000
b. $115,000
c. $130,000
d. $140,000
e. none of the above

Harris fabrics computes its predetermined overhead rate annually on the basis of direct labor-hours. at the beginning of the year, it estimated that 34,000 direct labor-hours would be required for the period’s estimated level of production. the company also estimated $599,000 of fixed manufacturing overhead expenses for the coming period and variable manufacturing overhead of $3.00 per direct labor-hour. harris's actual manufacturing overhead for the year was $768,234 and its actual total direct labor was 34,500 hours.required: compute the company's predetermined overhead rate for the year. (round your answer to 2 decimal places.)