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Serena owns a van that she paid $22,000 for in 2010 and used exclusively for personal purposes until May 9,2015,when she began using the van in her plumbing business.On May 9,2015,a comparable van was selling for $13,000.Serena sells the van on October 28,2017.Assuming that the van is 5-year MACRS property,it is not listed property,and that Serena did not make the Section 179 election to expense on the van,what is her allowable depreciation deduction in 2017?
Gain or Loss
The financial result that occurs when the selling price of an asset differs from its original purchase price.
Bonds
Fixed income investment products representing loans made by an investor to a borrower, typically corporate or governmental, which pay periodic interest payments.
Retired
The status of an asset that has been removed from service or the phase in an individual's life when they exit the workforce.
Bonds
Securities that provide a fixed return, symbolizing a lending agreement between an investor and a borrower, usually involving corporations or government entities.
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