Beth's Business Purchased Only One Asset During the Current Year

Multiple Choice

Beth's business purchased only one asset during the current year (a full 12-month tax year) . On December 1 Beth placed in service machinery (seven-year property) with a basis of $74,000. Calculate the maximum depreciation expense (ignoring §179 and bonus depreciation) . (Use MACRS Table 2.) (Round final answer to the nearest whole number.)

A) $2,642
B) $3,700
C) $10,573
D) $14,800
E) None of the choices are correct.