Please no plagiarism. I've checked more than one website for these two answers and they were all wrong.

8. The following facts pertain to Catchall Consulting, a sole proprietorship owned by Peabody:

20X09 net profit or (loss):	($ 5,000)
20X10 net profit or (loss):	$ 250
20X11 net profit or (loss):	$ 500
20X12 net profit or (loss):	($ 1,200)
20X13 net profit or (loss):	$ 800

1. In 20X14 Peabody gave out 50 promotional clipboards to prospective clients, at a cost of $3 per clipboard. What amount of business expense can Peabody include, as a result of the clipboards, on Peabodys 20X14 Schedule C?

$150

$0

$200

$1,25

2. Quanti Co., a calendar-year taxpayer, purchased small tools for $5,000 on December 21, 20X14, representing the companys only purchase of tangible personal property that took place during 20X14. On its 20X14 tax return, how many months of MACRS depreciation may Quanti Co. claim on the tools?

One-and-a-half months

Six months

None

One month