Equipment purchased on the last day of a company's fiscal year for a total cost of $10,000 is in a capital asset class that has a 10% per annual depreciation rate allowed for tax purposes.In the year of acquisition of this asset,the allowable tax deduction will be:

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The Answer of Equipment purchased on the last day of a company's fiscal year for a total cost of $10,000 is in a capital asset class that has a 10% per annual depreciation rate allowed for tax purposes.In the year of acquisition of this asset,the allowable tax deduction will be:

Equipment Purchased on the Last Day of a Company's Fiscal