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acquires, ТОГ $264,800

acquires, ТОГ $264,800

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Manshukh 

Exercise 8-23 (Algorithmic) (LO. 2, 3) Diana acquires, for $264,800, and places in service a 5-year class asset on December 19, 2023. It is the only asset that Diana acquires during 2023. Diana does not elect immediate expensing under § 179. She elects additional first-year deprecation. Click here to access the depreciation table to use for this problem. Calculate Diana's total cost recovery deduction for 2023. 139,020 $
Transcribed Image Text:Exercise 8-23 (Algorithmic) (LO. 2, 3) Diana acquires, for $264,800, and places in service a 5-year class asset on December 19, 2023. It is the only asset that Diana acquires during 2023. Diana does not elect immediate expensing under § 179. She elects additional first-year deprecation. Click here to access the depreciation table to use for this problem. Calculate Diana's total cost recovery deduction for 2023. 139,020 $
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