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Question - Cypress LTD Inc. purchased a 7-year asset in July for $200,000. More than 40% of the total additions for that year were placed in service during the fourth quarter. Neither the straight-line method nor the 150%-declining- balance method was elected. The company elects out of bonus depreciation and the Section 179 expense deduction. Cypress LTD Inc. sold the 7-year property in March of Year. What is the depreciation allowable in the year of sale? Remember to use the same modifying convention in the last year as you used in the first year.
A. $2,885
B. $4,555
C. $18,220
D. $36,440
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