Hazel Purchased a New Business Asset (Five-Year Asset) on September

question 44

Multiple Choice

Hazel purchased a new business asset (five-year asset) on September 30,2015,at a cost of $100,000.On October 4,2015,Hazel placed the asset in service.This was the only asset Hazel placed in service in 2015.Hazel did not elect § 179 or additional first-year depreciation if available.On August 20,2016,Hazel sold the asset.Determine the cost recovery for 2016 for the asset.

• A)$14,250
• B)$19,000
• C)$23,750
• D)$38,000
• E)None of the above

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Definitions:

Risks

Potential events or actions that may cause loss or hinder achievement of objectives.

Probability Of Success

The likelihood of achieving a goal or completing a task successfully, often expressed as a percentage.

American Sign Language (ASL)

A complete, natural language that serves as the predominant sign language of Deaf communities in the United States and most of Anglophone Canada.

Washoe

A female chimpanzee who was the first non-human to learn to communicate using American Sign Language.