What Is the Maximum Depreciation Expense Deduction for Year 2

question 84

Multiple Choice

What is the maximum depreciation expense deduction for Year 2 (2018) for a passenger automobile,used 100 percent for qualified business use,placed in service on June 15,2017 and costing $16,000 (the election to expense is not made and no bonus depreciation was taken) ?

• A)$2,800
• B)$3,160
• C)$3,200
• D)$5,100
• E)$5,120

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Definitions:

Phosphorus

A nonmetallic chemical element with the symbol P, essential for life, found in DNA and cell membranes.

Elemental Symbol

A one- or two-letter abbreviation that represents a chemical element as found on the periodic table.

Antimony

A metalloid element with the symbol Sb, used in alloys, fire retardants, and in semiconductor technology.

Elemental Symbol

A notation consisting of letters that represent a chemical element, used in chemical formulas and equations.