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Question - On August 23, 2020, Abbas bought a computer for $75,000 for business use. This was the only purchase for that year. Abbas used the most accelerated depreciation method available but did not elect Sec. 179. Bonus depreciation was not available. Abbas sells the machine in 2021. What the depreciation on the computer for 2021?
A) $2,400.
B) $6,600.
C) $8,000.
D) $12,000.
Your business associate mentions that she is considering investing in corporate bonds currently selling at a premium.- Reply with a memorandum to confirm or correct your associate's interpretation of premium bonds.
1.Most changes in accounting principles are recorded and reported retrospectively.
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