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Mary purchased a new five-year class asset on March 7, of the current year. The asset was listed property (not an automobile). It was used
Mary purchased a new five-year class asset on March 7, of the current year. The asset was listed property (not an automobile). It was used 70% for business and the rest of the time for personal use. The asset cost $20,000. Mary made the 179 election. The income from the business before the 179 deduction was $200,000. Determine the total deductions with respect to the asset for 2019.
- $6,000
- $10,000
- $14,000
- $20,000
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