7. Assume that a taxpayer purchases a computer in 2010 that has an estimated useful life of...
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7. Assume that a taxpayer purchases a computer in 2010 that has an estimated useful life of 10 years. If the computer is used 100 percent for business and no election to expense was made, what is the MACRS recovery period that must be used for cost recovery on the taxpayer’s tax return?
a. 5 years
b. 7 years
c. 8 years
d. 10 years
e. 1 year
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Related Book For
Income Tax Fundamentals 2011
ISBN: 9780538469197
29th Edition
Authors: Gerald E. Whittenburg, Martha Altus-Buller
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