Bhaskar purchased a new factory building and land on September 10, 2021, for $3,700,000. ($500,000 of the purchase price was allocated to the land.) He elected the alternative depreciation system (ADS). Determine the cost recovery deduction for 2022. O $80,000 Ob $82,048 Oc. $23,328 Od $92,500

Bhaskar purchased a new factory building and land on September 10, 2021, for $3,700,000. ($500,000 of the purchase price was allocated to the land.) He elected the alternative depreciation system (ADS). Determine the cost recovery deduction for 2022. O $80,000 Ob $82,048 Oc. $23,328 Od $92,500

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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Question

Bhaskar purchased a new factory building and land on September 10, 2021, for $3,700,000. ($500,000 of the purchase price was allocated to the land.) He elected the
alternative depreciation system (ADS). Determine the cost recovery deduction for 2022.
O $80,000
Ob. $82,048
O $21,328
Od $92,500

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