Question - On January 2, 2010 Greg, a sole proprietor, purchased a new van to beused in his business. He traded in a used van with an adjusted basis of $2,500and paid $7,500 cash. Greg elected straight-line depreciation. He did not electa Sec. 179 deduction for the van. What is Greg's allowable depreciation deduction for 2010?
A) $2,500
B) $2,000
C) $1,000
D) $0