179 Expense Mistake found on Ninja MCQ

  • Creator
    Topic
  • October 9, 2015 at 5:58 pm #197448
    Stgeorge
    Participant

    NINJA Question –

    Green Valley, Inc., purchased and placed in service a $130,000 piece of used equipment in a year with a maximum allowable Section 179 amount of $25,000 and a ceiling of $200,000 of qualifying property. No other property was placed into service during the year and the 50% bonus depreciation is not an option for 2014. The equipment is 7-year property. The first-year depreciation for 7-year property is 14.29%. Before consider­ing any depreciation deduction, Green Valley had $300,000 of taxable income. Rounding to the nearest dollar, what amount is the maximum allowable depreciation deduction?

    A.

    $130,000

    B.

    $25,000

    Incorrect C.

    $40,005

    D.

    $500,000

    On Ninja it says the correct answer is D. Please tell me I am not going crazy and this is a mistake in ninja MCQ for this question.

    FAR 81
    AUD 65, 84 (Used Ninja MCQ which I say contributed to my huge increase in score I love you Jeff)
    REG 87 (CPA excel Wiley Self Study Book, Ninja 10 point combo)
    BEC 86! I Must Pass or I lose my FAR Credit, Pray for me(Becker, Wiley, WTB, Ninja MCQ, Ninja Notes)

    DONE!!!!!!

    Using : Wiley CPA Exam Review Textbook, Wiley TB, Ninja Notes, Ninja MCQ

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