Question: SHOW ALL YOUR WORK. Explain your answer Omar acquires used 7-year personal property for $100,000 to use in his business in February 2014. Omar does

SHOW ALL YOUR WORK. Explain your answer

Omar acquires used 7-year personal property for $100,000 to use in his business in February 2014. Omar does not elect 179 expensing, but does take the maximum regular cost recovery deduction. He elects not to take additional first-year depreciation. As a result, Omar will have a positive AMT adjustment in 2014 of what amount? a. $0 b. $3,580 c. $10,710 d. $14,290 e. None of these

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