Omar Acquires Used 7-Year Personal Property for $100,000 to Use

question 84

Multiple Choice

Omar acquires used 7-year personal property for $100,000 to use in his business in February 2014.Omar does not elect § 179 expensing,but does take the maximum regular cost recovery deduction.He elects not to take additional first-year depreciation.As a result,Omar will have a positive AMT adjustment in 2014 of what amount?

• A)$0
• B)$3,580
• C)$10,710
• D)$14,290
• E)None of these

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Definitions:

Oophorectomy

Surgical removal of one or both ovaries.

Oogenesis

The process by which female gametes, or ova, are produced in the ovaries through cell division and differentiation.

Oophoritis

This refers to the inflammation of the ovaries.

Oophorotomy

A surgical incision into an ovary.