Watson Company purchases used equipment (5-year MACRS property)for $550,000 on July 8,2016.What is Watson' maximum allowable cost recovery deduction for 2016 on the equipment if this is the only purchase of equipment for 2016?
A)$510,000
B)$542,000
C)$539,000
D)$542,500
E)$549,000

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The Answer of Watson Company purchases used equipment (5-year MACRS property)for $550,000 on July 8,2016.What is Watson' maximum allowable cost recovery deduction for 2016 on the equipment if this is the only purchase of equipment for 2016?
A)$510,000
B)$542,000
C)$539,000
D)$542,500
E)$549,000

Watson Company Purchases Used Equipment (5-Year MACRS Property)for $550,000 on July