2. yellow company purchased the following assets on dec 1,2021 and placed them in service on the dates shown. ABC elected not to use bonus depreciation. • Computer Equipment 3/1/2022, total installed price = 250000(5year-property) • Communications Equipment 9/1/2022, total installed price=2800000(7year-property) • a.what is the maximum allowed cost recovery for 2022 for the communications equipment only?
2. yellow company purchased the following assets on dec 1,2021 and placed them in service on the dates shown. ABC elected not to use bonus depreciation. • Computer Equipment 3/1/2022, total installed price = 250000(5year-property) • Communications Equipment 9/1/2022, total installed price=2800000(7year-property) • a.what is the maximum allowed cost recovery for 2022 for the communications equipment only?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:2. yellow company purchased the following
assets on dec 1,2021 and placed them in
service on the dates shown. ABC elected
not to use bonus depreciation. • Computer
Equipment 3/1/2022,total installed price
= 250000(5year-property) •
Communications Equipment 9/1/2022, total
installed price=2800000(7year-property) •
a.what is the maximum allowed cost
recovery for 2022 for the communications
equipment only?
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