On January 3,2012,John Acquired and Placed into Service Business Tools

question 68

Multiple Choice

On January 3,2012,John acquired and placed into service business tools costing $10,000.The tools have a 3-year class life.No other assets were purchased during that year.The depreciation in 2015 for those tools is (Sec.179 and bonus depreciation were not applied)

• A)$0.
• B)$741.
• C)$1,920.
• D)$3,333.

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Definitions:

Repair

The action taken to fix, restore, or make good any damage, defect, or deterioration.

Controlled Laboratory Conditions

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The elements that constitute a relationship, including communication, trust, respect, and mutual understanding.