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Audra Acquires the Following New Five-Year Class Property in 2015

question 79

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Audra acquires the following new five-year class property in 2015: Asset Acquisition Date Cost A January 10 $ 106,000 B July 5 70,000 C November 15 1,950,000 Total $ 2,126,000 Audra elects § 179 treatment for Asset C.Audra's taxable income from her business would not create a limitation for purposes of the § 179 deduction.Audra claims the full available additional first-year depreciation deduction.Determine her total cost recovery deduction (including the § 179 deduction) for the year.


Definitions:

Person-Centered Theory

A psychological approach by Carl Rogers emphasizing a person's subjective view of the world and the importance of unconditional positive regard.

Ideal Self

A person's conception of how they would like to be, representing their goals and aspirations.

Actualize

The process of realizing or achieving one's potential or possibilities, often associated with Maslow's concept of self-actualization.

Responsibility

The state or fact of having a duty to deal with something or of having control over someone; a moral obligation to behave correctly towards or in respect of.

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