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ture Nare ESTION 7 of the following is not one of the allowable cost recovery systems? Recapture Depreciation Amortization Depletion QUESTION Taxpayer successfully completes a 1231 exchange. The property given up had basis of 1,000. The taxpayer received a replacement property with fair market value of $10.000 Taxpayer also received $1,000 of cash in the transaction. What is the taxpayer's basis in the asset received? O $11,000 0 59.000 $10.000 51.000 QUESTIONS Which of the following any is considered a Sec. 197 intable? Furniture Patent produced internally by RKD Computer Software O Type here to search MACRS Tables Half Year Convention 3 YR Year 1 2 3 4 44.45 14.81 7.41 5 YR 20.00% 32.00 19.20 11.52 11.52 5.76 7 YR 14.29% 24.49 17.49 12.49 8.93 8.92 8.93 4.46 6 7 8 9 10 11 12 13 14 15 16 15 YR 5.OON 9.50 8.55 7.70 6.93 6.23 5.90 5.90 5.91 5.90 5.91 5.90 5.91 5.90 5.91 2.95 Mid Month Convention 39 Year Property Month 1 2 3 4 5 6 7 8 9 10 11 12 1 2.461% 2.247 2.033 1.819 1.605 1.391 1.177 0.963 0.749 0.535 0.321 0.107 2-39 2.564 2.564 2.564 2.564 2.564 2.564 2.564 2.564 2.564 2.564 2.564 2.564 40 0.107 0.321 0.535 0.749 0.963 1.177 1.391 1.605 1.819 2.033 2.247 2.461