James Purchased a New Business Asset (Three-Year Personalty)on July 23,2011,at

question 110

Multiple Choice

James purchased a new business asset (three-year personalty) on July 23,2011,at a cost of $40,000.He did not elect to expense any of the asset under § 179,nor did he elect straight-line cost recovery.James elects not to take additional first-year depreciation.Determine the cost recovery deduction for 2011.

• A) $8,333.
• B) $16,665.
• C) $33,333.
• D) $41,665.
• E) None of the above.

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Definitions:

Third Country National

an individual who is employed by a company or organization in a country that is neither their home country nor the country where the company is headquartered.

Branch Office

A location, separate from the main office, where business activities are conducted; it typically represents the organization in a specific geographic area.

Effective Selection

The process of rigorously identifying and choosing individuals who are most likely to succeed in a job or role based on various criteria and assessments.

Violent Or Criminal Acts

Actions that involve force or criminal activities, potentially causing harm to people or property.