Solved

YumYum Corporation (A Calendar-Year Corporation)moved into a New Office Building

Question 19

Multiple Choice

YumYum Corporation (a calendar-year corporation) moved into a new office building adjacent to its manufacturing plant in 2015.It purchased and placed in service the following assets during 2015: YumYum Corporation (a calendar-year corporation) moved into a new office building adjacent to its manufacturing plant in 2015.It purchased and placed in service the following assets during 2015:   All assets are used 100% for business use.The office building does not include the cost of the land on which it is located that was an additional $300,000.The corporation had $900,000 income from operations before calculating depreciation deductions.YumYum Corporation made any elections available to maximize its overall depreciation deduction for 2015.What is its maximum depreciation deduction on the new automobile in 2015? A) $3,160 B) $3,460 C) $6,000 D) $11,600 All assets are used 100% for business use.The office building does not include the cost of the land on which it is located that was an additional $300,000.The corporation had $900,000 income from operations before calculating depreciation deductions.YumYum Corporation made any elections available to maximize its overall depreciation deduction for 2015.What is its maximum depreciation deduction on the new automobile in 2015?


A) $3,160
B) $3,460
C) $6,000
D) $11,600

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions