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

question 35

Multiple Choice

Mary purchased a new five-year class asset on March 7, 2017. 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. Determine the total deductions with respect to the asset for 2017.

• A)$180,000
• B)$378,000
• C)$528,000
• D)$600,000
• E)None of the above

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Definitions:

Superior Vena Cava

In humans, a very large vein that delivers blood from the upper part of the body to the right atrium. Compare with inferior vena cava.

Posterior View

An angle of perspective that shows the back or rear side of an object or anatomical structure.

Structure Labeled

The act of identifying and marking specific parts of a structure for study or reference.

Prehypertensive State

A condition characterized by blood pressure that is higher than normal but not yet high enough to be classified as hypertension.