Hazel Purchased a New Business Asset (Five-Year Property)on November 30,2010,at

question 31

Multiple Choice

Hazel purchased a new business asset (five-year property) on November 30,2010,at a cost of $100,000.This was the only asset acquired by Hazel during 2010.On January 7,2011,Hazel placed the asset in service.She did not elect to expense any of the asset cost under § 179,nor did she elect straight-line cost recovery.If Congress reenacts additional first-year depreciation for 2010,Hazel did elect not to take additional first-year depreciation.On October 25,2012,Hazel sold the asset.Determine the cost recovery for 2012.

• A)$9,600.
• B)$16,000.
• C)$26,000.
• D)$38,000.
• E)None of the above.

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Definitions:

Fear Acquisition

The process by which an individual learns to fear a particular stimulus through conditioning or traumatic experiences.

Findings

Results or conclusions derived from scientific research or investigations.

Cognitive Intrusions

Unwanted, disruptive thoughts that intrude into conscious awareness, often associated with stress or trauma.

Obsessions

Persistent, intrusive, and unwanted thoughts, images, or urges that cause significant anxiety or distress.