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

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Chapter1: Financial Statements And Business Decisions
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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
Transcribed Image Text: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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Section 179 Deduction and Modified Accelerated Cost Recovery System (MACRS) Depreciation
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