Galaxy Corporation Purchases Specialty Software from a Software Development Firm

question 73

Multiple Choice

Galaxy Corporation purchases specialty software from a software development firm for use in its business as of January 1 of the current year at a cost of $90,000.No hardware was acquired.How much of the cost can Galaxy deduct this year?

• A)$18,000
• B)$15,000
• C)$30,000
• D)$90,000

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