Replaced sewer line and financing payment - what is the correct approach for taxes?

[Ron Brady]

In July we replaced a broken sewer line for $8,500. We have 0% financing for 12 months. We have the cash to pay it now, but with 0% financing, we are in no rush to give up our cash.

1.  Is this a capital expense to be depreciated? We assume yes.

2. Can we use 60% bonus depreciation on this or no?

3. Do we have to pay off the financing by December 31 to have it apply to the 2024 tax year?

4. Are there any other tax implications to this?

Thank you, tax experts!