Barry Purchased a Used Business Asset (Seven-Year Property) on September

question 71

Multiple Choice

Barry purchased a used business asset (seven-year property) on September 30, 2017, at a cost of $200,000. This is the only asset he purchased during the year. Barry did not elect to expense any of the asset under § 179, did not take additional first-year depreciation, and did not elect straight-line cost recovery. Barry sold the asset on July 17, 2018. Determine the cost recovery deduction for 2018.

• A)$19,133
• B)$24,490
• C)$34,438
• D)$55,100
• E)None of the above

---

Definitions:

Consumer-Generated Media

Content created and shared by consumers about products or brands, including reviews, blogs, social media posts, and videos.

Companies' Products

The various goods or services that a company offers to its customers.

Filter Bubble

A phenomenon where an individual’s exposure to information on the internet is limited by algorithms based on the user's location, search history, and other personal data.

Website Algorithm

A set of coded instructions that dictates how data is processed or displayed on a website, often used to personalize user experience or rank search engine results.