A client placed $2,800,000 of five-year equipment into service in January 2019. Because taxable income is more than $10,000,000, she would like to maximize this year's depreciation deduction. The largest deduction allowed is
A. $1,176,000.
B. $560,000.
C. $1,020,000.
D. $2,800,000.
Answer: D
You might also like to view...
Which letter part does the simplified block format omit?
a. Date b. Greeting c. Letterhead d. Subject line
Intensive distribution is selling through only those intermediaries who will give the product special attention.
Answer the following statement true (T) or false (F)
Which of the following statements is CORRECT?
A. A conservative financing policy is one where the firm finances part of its fixed assets with short-term capital and all of its net working capital with short-term funds. B. If a company receives trade credit under terms of 2/10 net 30, this implies that the company has 10 days of free trade credit. C. One cannot tell if a firm uses a current asset financing policy that matches maturities, is conservative, or is aggressive without an examination of its cash budget. D. If a firm has a relatively aggressive current asset financing policy vis-รก-vis other firms in its industry, then its current ratio will probably be relatively high. E. Accruals are an expensive but commonly used way to finance working capital.
Unlike arbitrators, mediators:
a. can impose decisions on both parties b. cannot impose a decision c. cannot help resolve a conflict d. cannot create law e. cannot bend the rules of arbitration