On January 3,2014,John acquired and placed into service business tools costing $10,000.The tools have a 3-year class life.No other assets were purchased during that year.The depreciation in 2017 for those tools is (Sec.179 and bonus depreciation were not applied)
A)$0.
B)$741.
C)$1,920.
D)$3,333.

Question

Quizplus · Accepted Answer

B)(0.0741 × $10,000)= $741 per MACRS tables

On January 3,2014,John Acquired and Placed into Service Business Tools