Calculate bonnies depreciation expense during the first year

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Reference no: EM133921681

Problem

Bonnie purchased a camera (5-year property) for use in her sole proprietorship. The basis of the camera was $3,000. Bonnie used the camera in her business 80 percent of the time and used it for personal purposes the rest of the time during the first year. Get the instant assignment help. Ignoring bonus depreciation, calculate Bonnie's depreciation expense during the first year assuming the sole proprietorship had a loss during the year.

Reference no: EM133921681

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