On September 7, 2012, a company placed in service 5-year property. The MACRS basis used to depreciate
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On September 7, 2012, a company placed in service 5-year property. The MACRS basis used to depreciate the property is $100,000, and the mid-quarter convention applies to personal property placed in service in 2012. In June, 2014, the company sold the property. Which of the following is the correct way to compute the company’s 2014 MACRS deduction on the property?
a. $100,000 × 20.40% × 4.5/12
b. $100,000 × 18.00% × 4.5/12
c. $100,000 × 20.40% × 5.5/12
d. $100,000 × 18.00% × 5.5/12
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Related Book For
Essentials Of Federal Income Taxation For Individuals And Business
ISBN: 9780808038009
15th Edition
Authors: Linda M. Johnson
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