If a Machine (Seven-Year Property) Being Depreciated Using the Half-Year

question 74

True/False

If a machine (seven-year property) being depreciated using the half-year convention is disposed of during the seventh year, a taxpayer must multiply the appropriate depreciation percentage from the MACRS table percentage by 50 percent to calculate the depreciation expense properly.

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Definitions:

Apathetic

Showing or feeling no interest, enthusiasm, or concern about something.

Minimal Effort

The least amount of energy or work expended to achieve a task or objective.

Political Tactics

Strategies used within an organization to gain advantage or support for one's goals or interests.

Institutionalization

Institutionalization is the process through which certain practices, relationships, or norms become established and accepted as a part of society or organization's culture.