An Asset Other Than a Passenger Automobile Is Placed in Service

question 10

Multiple Choice

An asset other than a passenger automobile is placed in service on May 15,2013 and has a depreciable basis of $32,000.The asset is in the 7-year recovery class.What is the maximum depreciation deduction that may be claimed for 2013,excluding the election to expense and bonus depreciation?

• A)$2,286
• B)$32,000
• C)$4,573
• D)$2,960
• E)None of the above

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Definitions:

Authority

The faculty to govern, resolve issues, and secure compliance.

Self-Control

The skill to manage one's emotional states, cognitive processes, and actions in situations presenting temptations and spontaneous impulses.

Continuous Schedules

Work or production schedules that operate non-stop, often on a 24/7 basis, to ensure uninterrupted operations.

Regular Performance

The consistent or usual level of productivity or efficiency achieved by an individual or organization.