Augie Purchased One New Asset During the Year (Five-Year Property)

question 55

Multiple Choice

Augie purchased one new asset during the year (five-year property) on November 10,2015,at a cost of $650,000.She would like to use the § 179 election and will also take additional first-year depreciation,if available.The income from the business before the cost recovery deduction and the § 179 deduction was $600,000.Determine the total cost recovery deduction with respect to the asset for 2015.

• A)$22,500
• B)$154,550
• C)$500,000
• D)$600,700
• E)None of the above

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Definitions:

Person-Centered Therapy

A form of psychotherapy that emphasizes the importance of an individual's subjective experience and the therapist's unconditional positive regard toward the client.

Incongruence

A state in which there is a mismatch between one's experiences and self-image or between one's self-image and ideal self.

Self-Concept

An individual's understanding and belief about themselves, encompassing self-esteem, self-knowledge, and the perception of one's traits and abilities.

Family Therapist

A psychotherapist specializing in treating family issues and dynamics through family systems theory and therapy approaches.