LO.2, 3 Federal Taxation) Orange Corporation acquired new office furniture on August 15, 2020, for $130,000.  Orange does not elect immediate expensing under section 179.  Orange claims any available additional first-year depreciation. Determine Orange’s cost recovery for 2020. How would your answer change if Orange decided to use $52,000 of bonus depreciation and use normal MACRS on the balance of the acquisition cost?

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