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2. Kendra Brown, a sole proprietor, acquires a new five-year asset on April 17, 2020, for $58,000 (for business-use). This is the only asset Kendra
2. Kendra Brown, a sole proprietor, acquires a new five-year asset on April 17, 2020, for $58,000 (for business-use). This is the only asset Kendra acquired during the year. Kendra does NOT elect 179 (and elects out of bonus depreciation). On September 1, 2021, she sells the asset.
a. Determine the cost recovery for 2020
b. Determine the cost recovery for 2021
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