Jim places a new lift truck (7-year MACRS property) into service on January 16, 2019. He pays $30,000 for the truck. This is the only business asset placed into service during this year. Jim does not desire to use the Section 179 election. What is the maximum depreciation Jim may deduct for the current year?
A. $-0-
B. $4,287
C. $6,000
D. $8,574
E. $30,000
Answer: E
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The elements that make up an organizational system are referred to as entities
Indicate whether the statement is true or false