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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