Hazel Purchased a New Business Asset (Five-Year Asset) on September

question 74

Multiple Choice

Hazel purchased a new business asset (five-year asset) on September 30, 2012, at a cost of $100,000. On October 4, 2012, Hazel placed the asset in service. This was the only asset Hazel placed in service in 2012. The only election with respect to the asset was not to take § 179. On August 20, 2013, Hazel sold the asset. Determine the cost recovery for 2013 for the asset.

• A)$9,600.
• B)$11,875.
• C)$23,750.
• D)$38,000.
• E)None of the above.

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Definitions:

Integrity Of Decisions

The quality of making choices that are upright, honest, and adhere to moral and ethical principles.

Ethical Decision-Making Process

A systematic approach to resolving moral problems by considering ethical principles, consequences, and stakeholder impacts.

Moral Philosophies

The study of principles and theories that guide individuals in determining what behaviors are right or wrong, ethical or unethical.

Individuals' Intentions

The plans or aims that a person has in their mind to achieve or carry out a specific action or outcome.