G&M Enterprises Purchased a 6,500 Pound SUV (Not Considered a Passenger

question 9

Multiple Choice

G&M Enterprises purchased a 6,500 pound SUV (not considered a passenger automobile for purposes of the listed property and luxury automobile limitations) on June 1,2011 for use in its business.The SUV,with a cost basis of $29,000,has a 5-year estimated life.It also is 5-year recovery property.How much depreciation and Section 179 expense should be taken on the SUV for the 2011 calendar tax year,assuming G&M Enterprises wishes to maximize its deduction? Do not consider bonus depreciation.

• A)$25,000
• B)$4,000
• C)$5,800
• D)$2,917
• E)$25,800

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Definitions:

Voting Rights

Legal rights and regulations governing eligibility and access to participate in electoral processes, critical to democratic governance and representation.

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A 19th-century French political thinker and historian best known for his works detailing the democratic system of the United States and its societal structures.

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