On November 3rd of This Year,Kerry Acquired and Placed into Service

question 86

Multiple Choice

On November 3rd of this year,Kerry acquired and placed into service 7-year business equipment costing $80,000.In addition,on May 5th of this year,Kerry had also placed in business use 5-year recovery property costing $15,000.Kerry did not apply Sec.179 immediate expensing or bonus depreciation.No other assets were purchased during the year.The depreciation for this year is

• A)$3,606.
• B)$6,606.
• C)$13,576.
• D)$14,432.

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Definitions:

Great Teams

Groups of individuals working collaboratively towards a common goal, characterized by effective communication, mutual respect, and shared leadership.

Business

An organization or enterprise engaged in commercial, industrial, or professional activities with the goal of generating profits.

Angel

An affluent individual who provides capital for a business start-up, usually in exchange for convertible debt or ownership equity.

Intervene

To come between disputing parties, events, or processes to alter a result or prevent certain actions.