QUESTION 34 All of the following may deduct education expenses except A. Selma Bouvier is a self-employed dentist who incurs expenses to attend a convention on new techniques in oral surgical procedures. 3. Charles Montgomery Burns is an accountant who incurs expenses to take a CPA exam review course. OC. Disco Declan Desmond is a dance instructor who incurs expenses to attend ballet classes. OD.Waylon Smithers is a business executive who incurs expenses to pursue an MBA degree. E. Herman Hermann is a high school teacher who incurs expenses for education courses to meet new course requirements to maintain his job. QUESTION 35 Which of the following statements regarding depreciation is incorrect? O A. While Congress has enacted several different depreciation methods, all currently owned assets are depreciated using the method in effect when the asset was placed in service. 3. Pedro purchased used delivery equipment costing $80,000 and used computers costing $90,000 (the only assets purchased) that are used in his business. He may allocate his section 179 deduction to either or both assets. OC MACRS eliminates several sources of potential conflict between the IRS and taxpayers concerning an asset's useful life and the calculation of the depreciation deduction. D. The Section 179 expense deduction is allowed on all depreciable and tangible property used in a trade or business. E. The earlier the depreciation deduction can be taken, the greater the present value of the tax savings will be to the taxpayer