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1. Research and experimentation expenditures connected with a trade or business can be capitalized and amortized for tax purposes over a period of not less

1. Research and experimentation expenditures connected with a trade or business can be capitalized and amortized for tax purposes over a period of not less than:

A)30months

B) 60 months

C) 90 months

D) 120 months

2. Under current law, for tax purposes, nondeductible nonbusiness and/or nonrental expenses include:

A) Investment expenses

B) Tax planning expenses

C) Tax compliance expenses

D) All of the above

3. For MACRS depreciation purposes, in general, under the "table method", autos and light-duty trucks are depreciated over what period?

A) Three years

B) Five years

C) Ten years

D) Fifteen years

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