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During the year, Far-Out Furniture, a manufacturer of dormitory furniture, purchased the following assets: 2/15/200 Machine $80,000 10/31/20x0 Equipment $60,000 12/9/200 Warehouse $110,000 In computing
During the year, Far-Out Furniture, a manufacturer of dormitory furniture, purchased the following assets: 2/15/200 Machine $80,000 10/31/20x0 Equipment $60,000 12/9/200 Warehouse $110,000 In computing depreciation of these assets, which of the following conventions will be used by this calendar-year taxpayer? Half-year, mid-month Half-year, mid-quarter, mid-month Mid-quarter, mid-month Mid-quarter only
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