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Galaxy Corporation purchases specialty software from a software development firm for use in its business as of January 1 of the current year at a cost of $90,000. No hardware was acquired. How much of the cost can Galaxy deduct this year?

A) $18,000

B) $15,000

C) $30,000

D) $90,000

Accounting Basics, Accounting

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  • Reference No.:- M945792

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