James Purchased a New Business Asset (Three-Year Personalty) on July

question 94

Multiple Choice

James purchased a new business asset (three-year personalty) on July 23,2015,at a cost of $40,000.James takes additional first-year depreciation but does not elect Section 179 expense on the asset.Determine the cost recovery deduction for 2015.

• A)$8,333
• B)$26,666
• C)$33,333
• D)$41,665
• E)None of the above

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Definitions:

Blascovich and Colleagues

Refers to Jim Blascovich and his research team, known for their work in social neuroscience, including studies on social stress and biopsychosocial models of challenge and threat.

Social Facilitation

The tendency for people to perform differently when in the presence of others compared to when alone, often improving on simple tasks or tasks at which they are skilled.

Challenge

A situation, task, or problem that requires a person to use their skills, knowledge, or resources to overcome it.

Social Facilitation

The tendency for people to perform differently when in the presence of others than when alone, typically improving on simple tasks and performing worse on complex tasks.