Solved

Arlington LLC Purchased an Automobile for $40,000 on July 5

Question 3

Multiple Choice

Arlington LLC purchased an automobile for $40,000 on July 5, 2014. What is Arlington's depreciation expense for 2014 if its business use percentage is 75 percent (ignore any possible bonus depreciation) ?


A) $2,370
B) $3,160
C) $6,000
D) $8,000
E) None of these

Correct Answer:

verifed

Verified

Related Questions

Q1: Assume that Bethany acquires a competitor's assets

Q2: Columbia LLC placed in service on October

Q4: Yasmin purchased two assets during the current

Q5: Which of the following depreciation conventions are

Q8: Bonnie Jo purchased a used computer (5-year

Q32: If a business mistakenly claims too little

Q48: In general, a taxpayer should select longer-lived

Q80: Occasionally bonus depreciation is used as a

Q99: Depletion is the method taxpayers use to

Q123: Taxpayers may always expense a portion of