B&P Inc., a calendar year corporation, purchased only one operating asset during 2017: $599,900 of used computer equipment (5-year recovery property) placed in service on March 18. Assuming that B&P makes a Section 179 election, compute B&P’s adjusted tax basis in the property at the end of 2017.

Multiple Choice

A) $0

B) $99,900

C) $79,920

D)$71,920

Answer rating: 100% (QA)

ANSWER D is the correct answer 71920 Operating assets are those assets acquired for use in the condu... View the full answer