Rustin Bought Used 7-Year Class Property on May 15, 2012

question 28

Essay

Rustin bought used 7-year class property on May 15, 2012, for $370,000.Rustin elects § 179 and straight-line cost recovery.Rustin's taxable income would not create a limitation for purposes of the § 179 deduction. Rustin does not take additional first-year depreciation.Determine the write-off Rustin can take in 2012.

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Definitions:

Escape Response

A behavioral reaction by an organism to avoid or flee from an unpleasant or threatening stimulus.

Avoidance Response

A behavior that aims to prevent the occurrence of an unpleasant experience or situation by avoiding the stimulus that leads to it.

Unconditioned Response

An innate, involuntary response to a stimulus that happens without any previous education or conditioning.

Rowdy

Behaving in a noisy, disorderly, and often disruptive manner, typically as a part of a group or gathering.