Is Corporation X allowed
under § 167 of the and treatment under § 1031 for equipment that Corporation X simultaneously held for sale to customers and designated as rental equipment?Is Corporation X allowed depreciation deductionsdepreciation deductions under § 167 of the Internal Revenue CodeInternal Revenue Code and like-kind exchangelike-kind exchange treatment under § 1031 for equipment that Corporation X simultaneously held for sale to customers and designated as rental equipment?