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What Is the Maximum Amount of Assets That Can Be

Question 21

Multiple Choice

What is the maximum amount of assets that can be purchased in the last quarter of a year to avoid the mid-quarter convention if $120,000 of assets are purchased in the first three quarters? (Ignore Section 179 expensing.)


A) $40,000
B) $48,000
C) $80,000
D) $120,000

Correct Answer:

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