George Purchases Used Seven-Year Class Property at a Cost of $200,000

question 77

Multiple Choice

George purchases used seven-year class property at a cost of $200,000 on April 20, 2018. Determine George's cost recovery deduction for 2018 for alternative minimum tax purposes, assuming George does not elect § 179 and does not take additional first-year depreciation.

• A) $2,500
• B) $10,000
• C) $14,280
• D) $28,580
• E) None of the above

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