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ABC company acquires and places in service two assets in March 2020: a forklift (7-year class asset) at a cost of 5000, and a truck
ABC company acquires and places in service two assets in March 2020: a forklift (7-year class asset) at a cost of 5000, and a truck (5-year class asset) at a cost of $12000. What is ABC's cost recovery deduction in 2020? Assume ABC is a calendar year taxpayer and does not take Sec.179 expense or first-year bonus depreciation.
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