10. Maddox, a single taxpayer, reports earned income of $198,000 and investment income (NII) of $13,000. What is Maddox's NII tax, if any? a) $0 b) $418 c) $494 d) $8,018 11. A calendar-year taxpayer purchases a new business on July 1. The contract provides the following price allocation: customer list, $100,000; trade name, $50,000; goodwill, $90,000. What is the amortization deduction for the current year? a. $3,000 b. $6,000 c. $8,000 d. $16,000 12. In May 2022, Marco Company purchased used equipment (5-year asset) to be used in the business from an unrelated taxpayer for $9,500. Marco Company did not elect Section 179. What is Marco's maximum allowable tax depreciation deduction for 2022? a. $0 b. $1,900 c. $5,000 d. $9,500 13. On August 1, Year 9, Graham purchases and places into service an office building costing $264,000, including $30,000 for the land. What was Graham's MACRS deduction for the office building in Year 9? a. $6,000 b. $3,192 c. $2,253 d. $1,753 14. ACE Landscaping purchased equipment for $3,000 in the current year that it plans to use 100% for business purposes. The equipment qualifies as 5-year property. ACE does not elect Section 179 or use bonus depreciation. On August 20 of Year 3, ACE sells the equipment for $1,800. The depreciation allowed for the equipment for Year 3 is (rounded to the nearest dollar): a. $0 b. $173 c. $288 d. $575