An Asset Is Placed in Service on May 15, 2016

question 97

Multiple Choice

An asset is placed in service on May 15, 2016 and has a depreciable basis of $40,000. The asset is in the 7-year recovery class and the half-year convention applies. What is the maximum depreciation deduction that may be claimed for 2016, excluding the election to expense and bonus depreciation?

• A)$2,572
• B)$5,144
• C)$5,716
• D)$25,000
• E)None of the above

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