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4. The Lambert Company bought a piece of equipment this year on October 9. The companys tax return is filed on a calendar year basis.
4. The Lambert Company bought a piece of equipment this year on October 9. The companys tax return is filed on a calendar year basis. MACRS is used to determine depreciation for income tax purposes. Which of the following could be true as to the amount of depreciation that can be recognized in this initial year?
A. Lambert can take no depreciation.
B. Lambert should take a full year of depreciation.
C. Lambert can take depreciation for of the year.
D. Lambert can take depreciation for 3/12th of the year.
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