The first year's depreciation for equipment acquired in October by a calendar-year business would be based on 1½ months if it was the only asset acquired that year.

Question

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The first year's depreciation for equipment acquired in October by a calendar-year business would be based on 1½ months because the asset was only in service for that period of time during the year.

The First Year's Depreciation for Equipment Acquired in October by a Calendar-Year