8-42 Olga is the proprietor of a small business. In 2017, the businesss income, before consideration of any cost recovery or 179 deduction, is $250,000. Olga spends $610,000 on new 7-year class assets and elects to take the 179 deduction on them. She does not claim any available additional first-year deprecia- tion. Olgas cost recovery deduction for 2017, except for the cost recovery with respect to the new 7-year assets, is $95,000. Determine Olgas total cost recovery with respect to the 7-year class assets and the amount of any 179 carryforward.

Section 179 Limit:

Cost Recovery for 7 year class asset:

Income before section 179 and cost recovery:

Cost Recovery:

Income before section 179:

Section 179 allowed amount:

Total deduction with respect to 7 year assets:

Section 179 carryforward (if applicable):