YumYum Corporation (A Calendar-Year Corporation) Moved into a New Office

question 65

Multiple Choice

YumYum Corporation (a calendar-year corporation) moved into a new office building adjacent to its manufacturing plant in 2017. It purchased and placed in service the following assets during 2017: $\begin{array}{ccr}\text {Date Acquired }&\text {Asset Description }&\text { Cost }\\\hline\text { March 4 } & \text { New Office Building } & \$ 850,000 \\\text { March 15 } & \text { New Computer Equipment } & 45,000 \\\text { March 25 } & \text { New Office Furniture } & \$ 25,000 \\\text { August 20 } & \text { Used Machinery } & \$ 120,000 \\\text { December 15 } & \text { New Automobile } & \$ 30,000\end{array}$ All assets are used 100% for business use. The office building does not include the cost of the land on which it is located that was an additional $300,000. The corporation had $900,000 income from operations before calculating depreciation deductions. YumYum Corporation made any elections available to maximize its overall depreciation deduction for 2017. What is its maximum depreciation deduction on the new automobile in 2017?

• A) $3,160
• B) $3,460
• C) $11,160
• D) $30,000

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Acting in accordance with moral principles or accepted standards of right and wrong.

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Persuasive

Able to convince others to agree with a viewpoint, undertake an action, or accept a proposal through logical, emotional, or ethical appeals.

Positive Emphasis

The practice of highlighting or focusing on positive aspects, achievements, or information in communication to influence perception or outcomes favorably.