Pat Purchased a Used Five-Year Class Asset on March 15

question 94

Multiple Choice

Pat purchased a used five-year class asset on March 15, 2012, for $60,000.He did not elect § 179 expensing.Determine the cost recovery deduction for 2012 for earnings and profits purposes.

• A)$2,000.
• B)$3,000.
• C)$6,000.
• D)$12,000.
• E)None of the above.

---

Definitions:

Epistatic Alleles

Genetic alleles that mask the effect of alleles at other loci in determining phenotypic expression.

Highly Heritable

Describes traits or characteristics that are significantly influenced by genetics and can be passed from parents to offspring.

Beak Size

A specific trait of birds and some other animals, referring to the dimensions of the beak, which can vary widely among species and is often subject to natural selection.

Teosinte Branched 1

A plant gene responsible for the difference in plant architecture between modern maize and its wild ancestor, teosinte.