Multiple Choice
Table 1: Sanjuro Corporation (a calendar-year corporation) purchased and placed in service the following assets during 2013:
All assets are used 100% for business use.The warehouse building does not include the cost of the land on which it is located which was an additional $1,000,000.The corporation has $3,000,000 income from operations before calculating depreciation deductions.Sanjuro Corporation wishes to maximize its overall depreciation deduction for 2013 and is willing to make any necessary elections.
-Refer to the information in Table 1.What is Sanjuro Corporation's maximum deduction for cost recovery for the warehouse for 2014?
A) $62,818
B) $55,052
C) $49,809
D) $44,566
Correct Answer:
Verified
Correct Answer:
Verified
Q34: The only acceptable convention for MACRS realty
Q38: Bangor Company incurred $70,000 of research costs
Q46: _ 1.The costs of all assets with
Q48: Table 1: Sanjuro Corporation (a calendar-year corporation)purchased
Q49: Table 1: Sanjuro Corporation (a calendar-year corporation)purchased
Q50: Table 1: Sanjuro Corporation (a calendar-year corporation)purchased
Q51: _ 6.The mid-year and mid-month are acceptable
Q52: The after-tax cost of an asset<br>A)Is higher
Q53: _ 13.Bonus depreciation and Section 179 expensing
Q55: _ 3.A donee's basis in a gift