Mountain View Development Co

question 47

Multiple Choice

Mountain View Development Co.purchases a new high volume paper shredder for use in their document management department for $20,000 on November 7 of 2017.It was the only piece of depreciable property placed in service during 2017.The paper shredder is 7-year MACRS property,the Section 179 election to expense was not exercised.What is Mountain View's 2017 depreciation deduction on the paper shredder?

• A)$714
• B)$2,498
• C)$2,812
• D)$2,980

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Definitions:

Two-Income Married Couples

Households in which both spouses earn income from employment.

Taxes

Mandatory financial charges or other types of levies imposed upon a taxpayer by a governmental organization.

Dividend Income

Earnings received from owning shares of stock in a corporation, typically paid out from the company's profits.

Corporations Taxed

The process through which businesses are subjected to tax on their income or profit by the government.