Colleen purchased a hotel building on May 10, 2020 for $3,000,000. Determine the cost recovery deduction for 2022. U.S. rules

FINANCIAL ACCOUNTING
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ISBN:9781259964947
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Chapter1: Financial Statements And Business Decisions
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Colleen purchased a hotel building on May 10, 2020 for $3,000,000. Determine the cost recovery deduction for 2022.

U.S. rules 

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Section 179 Deduction and Modified Accelerated Cost Recovery System (MACRS) Depreciation
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