In 2017,Henry Purchases $210,000 of Equipment with a Useful Life

question 31

Multiple Choice

In 2017,Henry purchases $210,000 of equipment with a useful life of 7 years.The taxable income of the business is $100,000.What is Henry's maximum depreciation deduction in 2017?

• A)$-0-
• B)$42,865
• C)$100,000
• D)$210,000
• E)$115,719

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Definitions:

Government

The governing body of a nation, state, or community, responsible for creating and enforcing laws and managing public services and resources.

Wagner Act

Also known as the National Labor Relations Act, it's a foundational statute of US labor law which guarantees basic rights of private sector employees to organize into trade unions, engage in collective bargaining, and take collective action such as strikes.

Employer

An individual or organization that hires and pays people to perform work or provide services.

Union Representative

An individual elected or appointed to represent union members in discussions, negotiations, or disputes with the employer.