Answer:
$6,217
Explanation:
Total expenditure incurred = $7,000 + $14,500 + $11,000 + $8,000 + $1,000
= $41,500
If Egret Selects to make, sec 195 election, then he can deduct $5,000 initially and the remaining in equal 180 installments.
her, in the given instance total months in current year = 1 July to 31 December = 6 months.
Therefore, deduction shall be
$5,000 + [tex]\frac{41,500-5,000}{180} \times 6 = $5,000 + 1,217[/tex] = 6,217
