Question
An asset is placed in service on May 15, 2015 and has a depreciable basis of $40,000. The asset is in the 7-year recovery class.
An asset is placed in service on May 15, 2015 and has a depreciable basis of $40,000. The asset is in the 7-year recovery class. What is the maximum depreciation deduction that may be claimed for 2015, excluding the election to expense and bonus depreciation?
a. $2,572
b. $5,144
c. $5,716
d. $25,000
e. None of the above
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Business Math
Authors: Cheryl Cleaves, Margie Hobbs, Jeffrey Noble
10th edition
133011208, 978-0321924308, 321924304, 978-0133011203
