An Asset (Not an Automobile) Put in Service in June

question 17

Multiple Choice

An asset (not an automobile) put in service in June 2019 has a depreciable basis of $35,000 and a recovery period of 5 years and is the only asset placed in service this year. Assuming bonus depreciation is used, a half-year convention, and the expensing election is made, what is the maximum amount of cost that can be deducted in 2019 (assume no income limitation) ?

• A)$7,000
• B)$17,500
• C)$21,000
• D)$24,400
• E)$35,000

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Definitions:

Melatonin

A hormone produced by the pineal gland that regulates sleep and wakefulness.

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A chemical substance produced in the body that controls and regulates the activity of certain cells or organs.

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A natural, recurring state of rest for the mind and body, characterized by altered consciousness and reduced sensory activity.