Lax,LLC Purchased Only One Asset During the Current Year

question 76

Multiple Choice

Lax,LLC purchased only one asset during the current year.It placed in service computer equipment (5-year property) on August 26 with a basis of $20,000.Calculate the maximum depreciation expense for the current year (ignoring §179 and bonus depreciation) :

• A)$2,000
• B)$2,858
• C)$3,000
• D)$4,000
• E)None of these

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