B&P Inc.,a calendar year corporation,purchased only one operating asset during 2019: $599,900 of used computer equipment (5-year recovery property)placed in service on March 18.Assuming that B&P makes a Section 179 election,compute B&P's adjusted tax basis in the property at the end of 2019.
A)$99,900
B)$71,920
C)$79,920
D)$0

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The Answer of B&P Inc.,a calendar year corporation,purchased only one operating asset during 2019: $599,900 of used computer equipment (5-year recovery property)placed in service on March 18.Assuming that B&P makes a Section 179 election,compute B&P's adjusted tax basis in the property at the end of 2019.
A)$99,900
B)$71,920
C)$79,920
D)$0

B&P Inc,A Calendar Year Corporation,purchased Only One Operating Asset During 2019