An Asset Other Than an SUV or a Passenger Automobile

question 19

Multiple Choice

An asset other than an SUV or a passenger automobile is placed in service on June 1,2011,and has a depreciable basis of $506,000.The asset is in the 7-year recovery class and the business has an $800,000 profit for the year.What is the maximum depreciation deduction that may be claimed for 2011,including the election to expense? Do not consider bonus depreciation.

• A)$500,000
• B)$500,500
• C)$21,333
• D)$500,857
• E)$500,429

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Definitions:

Stimulation

The action of arousing or encouraging something to increase activity, interest, or enthusiasm.

Potential Partners

Individuals who may be considered suitable for forming a personal or professional relationship.

Lucrative Career

A profession or occupation that is highly profitable and offers substantial financial rewards.

Sexual History

A record or account of an individual's past sexual behavior, activities, preferences, and partners.