An asset (not an automobile) put in service in June 2018 has a depreciable basis of $25,000

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An asset (not an automobile) put in service in June 2018 has a depreciable basis of $25,000 and a recovery period of 5 years. Assuming half­year convention, no bonus depreciation, and no election to expense is made, what is the maximum amount of cost that can be deducted in 2018? 

a. $2,500

b. $5,000 

c. $6,998 

d. $25,000 

e. None of the above

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Related Book For  answer-question

Income Tax Fundamentals 2019

ISBN: 9781337703062

37th Edition

Authors: Gerald E. Whittenburg, Steven Gill

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