Multiple Choice
Aaron has a successful business with $50,000 of income in 2016. He purchased a new 7-year MACRS property with a cost of $7,000. For tax purposes, what is the largest write-off Aaron can obtain in 2016 for the new asset?
A) $500
B) $1,000
C) $3,500
D) $7,000
Correct Answer:
Verified
Correct Answer:
Verified
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