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Aaron Has a Successful Business with $50,000 of Income in 2014

Question 86

Multiple Choice

Aaron has a successful business with $50,000 of income in 2014. 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 2014 for the new asset?


A) $500
B) $1,000
C) $3,500
D) $7,000

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