On January 3,2014,John Acquired and Placed into Service Business Tools

question 86

Multiple Choice

On January 3,2014,John acquired and placed into service business tools costing $10,000.The tools have a 3-year class life.No other assets were purchased during that year.The depreciation in 2017 for those tools is (Sec.179 and bonus depreciation were not applied)

• A)$0.
• B)$741.
• C)$1,920.
• D)$3,333.

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Definitions:

Toy Cars

Small-scale replicas of automobiles, typically designed for play or collection.

Dinosaur Figures

Toy replicas of dinosaurs, often used for educational or recreational purposes.

Opportunity Cost

The value of the next best alternative that is foregone when making a decision or choosing one option over another.

Airplane

A powered flying vehicle with fixed wings and a weight greater than that of the air it displaces, used for transportation.