Bonnie Purchased a New Business Asset (Five-Year Property) on March

question 72

Multiple Choice

Bonnie purchased a new business asset (five-year property) on March 10, 2018, at a cost of $30,000. She also purchased a new business asset (seven-year property) on November 20, 2018, at a cost of $13,000. Bonnie did not elect to expense either of the assets under § 179, nor did she elect straight-line cost recovery. Bonnie takes additional first-year depreciation. Determine the cost recovery deduction for 2018 for these assets.

• A) $7,858
• B) $9,586
• C) $21,915
• D) $43,000
• E) None of the above

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Definitions:

Group Behavior

The manner in which people behave when they are in large or small groups, influenced by the presence and actions of others in the group.

Task-Oriented

Focused primarily on completing tasks or achieving goals, rather than on social or emotional aspects.

Self-Centered

Focused primarily on one's own interests, needs, and perspectives, often at the exclusion of others'.

API

Application Programming Interface. Software for interaction with social media platforms.