Pat Purchased a Used Five-Year Class Asset on March 15

question 13

Multiple Choice

Pat purchased a used five-year class asset on March 15, 2018, for $60,000. He did not elect § 179 expensing. Determine the cost recovery deduction for 2018 for earnings and profits purposes.

• A) $2,000
• B) $3,000
• C) $6,000
• D) $12,000
• E) None of the above