The Only Asset Bill Purchased During 2019 Was a New

Multiple Choice

The only asset Bill purchased during 2019 was a new seven-year class asset.The asset, which was listed property, was acquired on June 17 at a cost of $50,000.The asset was used 40% for business, 30% for the production of income, and the rest of the time for personal use.Bill always elects to expense the maximum amount under § 179 whenever it is applicable.The net income from the business before the § 179 deduction is $100,000.Determine Bill's maximum deduction with respect to the property for 2019.

A) $1,428
B) $2,499
C) $26,749
D) $33,375