Chahana Acquired and Placed in Service $665,000 of Equipment on August

question 58

Multiple Choice

Chahana acquired and placed in service $665,000 of equipment on August 1,2017 for use in her sole proprietorship.The equipment is 5-year recovery property.No other acquisitions are made during the year.Chahana elects to expense the maximum amount under Sec.179.Assuming the property does not qualify for bonus depreciation,Chahana's total deductions for the year (including Sec.179 and depreciation) are

• A)$510,000.
• B)$133,000.
• C)$643,000.
• D)$543,000.

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Definitions:

Free Trade Zone

A designated region where goods can be imported, handled, manufactured, and re-exported under specific customs regulation but generally not subject to customs duty.

APEC

The Asia-Pacific Economic Cooperation, a forum for 21 Pacific Rim member economies that promotes free trade throughout the Asia-Pacific region.

Internal Environment

The conditions, entities, events, and factors within an organization that influence its activities and choices.

Business Strategy

A plan of action designed to achieve a long-term or overall aim of the business, considering internal and external factors.