quires a 7 year class asset on May 9,2021 for $80,000(only asset acquired during the year). Euclid does not elect immediate expense under 179. She does not claim any available additional 1st year dep. Calculate cost recovery ded
quires a 7 year class asset on May 9,2021 for $80,000(only asset acquired during the year). Euclid does not elect immediate expense under 179. She does not claim any available additional 1st year dep. Calculate cost recovery ded
Chapter8: Depreciation, Cost Recovery, Amortization, And Depletion
Section: Chapter Questions
Problem 21CE
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Euclid acquires a 7 year class asset on May 9,2021 for $80,000(only asset acquired during the year). Euclid does not elect immediate expense under 179. She does not claim any available additional 1st year dep. Calculate cost recovery deduction for 2021 and 2022.
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