Under the Current Tax Law, an Asset That Is Classified

question 11

Multiple Choice

Under the current tax law, an asset that is classified as 7-year property and has a cost of $400,000 would result in a depreciation deduction in Year 3 of

• A)$97,920.
• B)$69,960.
• C)$66,667.
• D)$57,140.

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