Billie Bob Purchased a Used Camera (Five-Year Property)for Use in His

question 83

Multiple Choice

Billie Bob purchased a used camera (five-year property) for use in his sole proprietorship in the prior year. The basis of the camera was $2,400. Billie Bob used the camera in his business 60 percent of the time during the first year. During the second year, Billie Bob used the camera 40 percent for business use. Calculate Billie Bob's depreciation deduction during the second year, assuming the sole proprietorship had a loss during the year. (Billie Bob did not place the asset in service in the last quarter.) (Use MACRS Table 1.)

• A)$0
• B)$48
• C)$192
• D)$336
• E)None of the choices are correct.

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Definitions:

Groupthink

A phenomenon whereby a group makes faulty decisions because of group pressures, leading to a degradation of mental efficiency, reality testing, and moral judgment.

Social Facilitation

The tendency for people to perform differently when in the presence of others than when alone, often improving on simple or well-rehearsed tasks.

Self-Disclosure

Revealing intimate aspects of oneself to others.

Asch Procedure

A research method used in social psychology to study conformity to group pressure by analyzing how individuals yield to or defy a majority group's opinion.