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Question

During the current year, a calendar year tax payer placed the following

assets in service (no other assets were placed in service during the year):


Date Asset Cost MACRS Recovery Period
May 15 Truck $12,000 5
Dec 21 Tractor 42,000 7


These assets will be subject to the:


a. half-year convention
b. mid-month convention
c. mid-quarter convention

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Subject: Accounting, Business
During the current year, a calendar year tax payer placed the following assets in service (no other assets were placed in service during the year):...
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