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The only depreciable asset Bill purchased during his calendar 2019 tax year was a new...

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Accounting

The only depreciable asset Bill purchased during his calendar 2019 tax year was a new seven-year-life asset. The asset, which was listed property, was acquired on June 17 at a cost of $100,000, and he placed it in service immediately. The asset was used 60% for business and the rest of the time for personal use. Bill did not elect IRC 179 expensing or to take additional first-year (bonus) depreciation. Determine Bills depreciation deduction with respect to the property for 2020.

a. $1,428

b. $2,499

c. $5,716

d. $8,574

e. $14,694

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