Barry Purchased a Used Business Asset (Seven-Year Property)on September 30,2016,at

question 15

Multiple Choice

Barry purchased a used business asset (seven-year property) on September 30,2016,at a cost of $200,000.This is the only asset he purchased during the year.Barry did not elect to expense any of the asset under § 179,did not take additional first-year depreciation (if available) ,and did not elect straight-line cost recovery.Barry sold the asset on July 17,2017.Determine the cost recovery deduction for 2017.

• A)$19,133
• B)$24,490
• C)$34,438
• D)$55,100
• E)None of the above

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Definitions:

Nonmotile Sperm

Sperm cells that lack the ability to move or swim, which can affect fertilization capabilities.

Pollen Grains

Microscopic structures that carry the male gametes of seed plants and are necessary for fertilization.

Phloem

Phloem is the living tissue in plants that transports the soluble organic compounds made during photosynthesis (notably sugars) to various parts of the plant.

Life Cycle

The series of stages through which an organism passes from the start of its life until it reproduces and starts the cycle anew.