In August of 2013,David Acquires and Places into Service Business

question 25

Multiple Choice

In August of 2013,David acquires and places into service business equipment costing $550,000.The equipment is classified as 5-year recovery property.No other acquisitions are made during the year.The property is not eligible for bonus depreciation.David elects to expense the maximum amount under Sec.179.David's total deductions for the year (including Sec.179 and depreciation) are

• A)$110,000.
• B)$550,000.
• C)$500,000.
• D)$510,000.

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Definitions:

Diversity

The state of being diverse; a range of different things or people, such as cultural, racial, or gender differences.

Left Hemisphere

The left side of the brain, which is typically associated with analytic thought, logic, language, and processing of sequential tasks.

Upper Portion

The top segment or section of something, typically referring to physical objects, body parts, or geographical areas.

Entire Body

Referring to the whole of a person's or organism's body including all of its parts and systems.