George Purchases Used Seven-Year Class Property at a Cost of $200,000

question 31

Multiple Choice

George purchases used seven-year class property at a cost of $200,000 on April 20,2016.Determine George's cost recovery deduction for 2016 for alternative minimum tax purposes,assuming George does not elect § 179 and does not take additional first-year depreciation,if available.

• A)$2,500
• B)$10,000
• C)$14,280
• D)$28,580
• E)None of the above

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