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Problem 1 A)Bonus depreciation in 2016 permits taxpayers to deduct 100% of the cost of the asset in the year placed in service. True or

Problem 1

A)Bonus depreciation in 2016 permits taxpayers to deduct 100% of the cost of the asset in the year placed in service.

True or False

B) Depreciation is the process of allocating the cost of assets to expense over a period of years.

True or False

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