Bonnie Jo Purchased a Used Camera (Five-Year Property)for Use in Her

question 109

Multiple Choice

Bonnie Jo purchased a used camera (five-year property) for use in her sole proprietorship. The basis of the camera was $3,600. Bonnie Jo used the camera in her business 70 percent of the time and used it for personal purposes the rest of the time during the first year. Calculate Bonnie Jo's depreciation deduction during the first year, assuming the sole proprietorship had a loss during the year. (Bonnie did not place the property in service in the last quarter.) (Use MACRS Table 1.)

• A)$360
• B)$504
• C)$720
• D)$3,600
• E)None of the choices are correct.

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Definitions:

Queue

A sequence of items or people waiting to be processed, often in a first-come, first-served basis in operations research and computer science.

Exponential Distribution

A probability distribution that describes the time between events in a process where events occur continuously and independently at a constant average rate.

Service Times

The duration or periods required to complete specific tasks, especially in the context of customer service or manufacturing.

Probability

A measure of the likelihood that an event will occur, expressed as a number between 0 and 1.