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

question 110

Multiple Choice

George purchases used seven-year class property at a cost of $200,000 on April 20, 2012.Determine George's cost recovery deduction for 2012 for alternative minimum tax purposes, assuming George does not elect § 179.

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

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Definitions:

Anaphylactic Reaction

A severe, potentially life-threatening allergic reaction that can occur rapidly and affect numerous body systems.

Epithelial Tissue

The type of animal tissue that covers body surfaces, lines body cavities, and forms glands; also called epithelium.