An Asset (Not an Automobile)placed in Service in June 2017

question 56

Multiple Choice

An asset (not an automobile) placed in service in June 2017 has a depreciable basis of $35,000 and a recovery period of 5 years.Assuming bonus depreciation is used,a half-year convention,and no expensing election,what is the maximum amount of cost that can be deducted in 2017?

• A)$7,000
• B)$17,500
• C)$21,000
• D)$24,500
• E)$35,000

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Definitions:

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Oak Tree

A type of tree or shrub belonging to the genus Quercus, known for its strength, longevity, and acorn production.

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