Mary Purchased a New Five-Year Class Asset on March 7,2016

question 62

Multiple Choice

Mary purchased a new five-year class asset on March 7,2016.The asset was listed property (not an automobile) .It was used 60% for business and the rest of the time for personal use.The asset cost $900,000.Mary made the § 179 election.The income from the business before the § 179 deduction was $600,000.Mary also takes additional first-year depreciation (if available) .Determine the total deductions with respect to the asset for 2016.

• A)$72,000
• B)$271,600
• C)$524,000
• D)$600,000
• E)None of the above

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Definitions:

Retailing-oriented Era

A period in business history when the focus shifted towards strategies that prioritize selling goods directly to consumers through various retail channels.

Customer's Perspective

A view or opinion held by consumers about a product, service, or brand, based on their personal experiences and expectations.

Value

The perceived benefit or satisfaction that a consumer receives from a product or service in relation to its cost.

Benefits to Costs

Refers to evaluating the advantages and disadvantages or gains and expenses associated with a decision, project, or purchase.