Bonnie Jo Purchased a Used Camera (5-Year Property) for Use

question 105

Multiple Choice

Bonnie Jo purchased a used camera (5-year property) for use in her sole proprietorship. The basis of the camera was $2,400. Bonnie Jo used the camera in her business 60 percent of the time and used it for personal purposes the rest of the time during the first year. Calculate Bonnie Jo's depreciation expense during the first year assuming the sole proprietorship had a loss during the year (Bonnie did not place the property in service in the last quarter) . (Use MACRS Table 1)

• A) $240.
• B) $288.
• C) $480.
• D) $2,400.
• E) None of the choices are correct.

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Definitions:

Contingency Management

Contingency Management is a behavior modification technique where desired behaviors are reinforced through tangible rewards or the removal of negative consequences.

Counterconditioning

A behavior therapy technique where a maladaptive response is replaced with a more desirable one by associating the feared stimulus with a new, positive response.

Stimulus Control

A behavior modification technique that involves changing the environment to manage the stimuli that trigger undesirable behaviors, thereby reducing or eliminating those behaviors.

Stimulation

Any activity that arouses or excites a bodily function or mental process, potentially leading to enhanced functioning or perception.