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Deirdre's business purchased only one asset during the current year (a full 12-month tax year). Deirdre placed in service machinery (7-year property) on December 1
Deirdre's business purchased only one asset during the current year (a full 12-month tax year). Deirdre placed in service machinery (7-year property) on December 1 with a basis of $50,000. Calculate the maximum depreciation expense (ignoring 179 and bonus depreciation):
$7,145 | ||
$1,785 | ||
$10,000 | ||
$2,500 | ||
None of these |
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