Lax, LLC purchased only one asset during the current year (a full 12-month tax year). Lax placed in service computer equipment (5-year property) on August 26 with a basis of $20,000. Calculate the maximum depreciation expense for the current year (ignoring §179 and bonus depreciation):
A) $2,000
B) $2,858
C) $3,000
D)$4,000
E)None of these

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The Answer of Lax, LLC purchased only one asset during the current year (a full 12-month tax year). Lax placed in service computer equipment (5-year property) on August 26 with a basis of $20,000. Calculate the maximum depreciation expense for the current year (ignoring §179 and bonus depreciation):
A) $2,000
B) $2,858
C) $3,000
D)$4,000
E)None of these

Lax, LLC Purchased Only One Asset During the Current Year