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Brittany started a law practice as a sole proprietor. She owned a computer, printer, desk, and file cabinet she purchased during law school (several years
Brittany started a law practice as a sole proprietor. She owned a computer, printer, desk, and file cabinet she purchased during law school (several years ago) that she is planning to use in her business. Asset Computer Printer Desk File cabinet Purchase Price $ 5,500 3,300 4,200 3,200 FMV at Time Converted to Business Use $ 3,800 3,150 4,000 3,225 Using the above information, what is the depreciable basis that Brittany should use in her business for each asset? Depreciable Basis Asset Computer Printer Desk File cabinet
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