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At the beginning of its 2 0 2 3 tax year, Hiram owned the following business assets: On July 8 , Hiram sold its equipment.
At the beginning of its tax year, Hiram owned the following business assets: On July Hiram sold its equipment. On August it purchased and placed in service new tools costing $; these tools are threeyear recovery property. These were Hiram's only capital transactions for the year. Required: Compute Hiram's maximum cost recovery deduction for In making your computation, assume that taxable income before depreciation exceeds $ Use Table Note: Enter all amounts as positive values. Round your intermediate computations and final answers to the nearest whole dollar amount. Maximum cost recovery deduction
At the beginning of its tax year, Hiram owned the following business assets:
On July Hiram sold its equipment. On August it purchased and placed in service new tools costing $; these tools are
threeyear recovery property. These were Hiram's only capital transactions for the year.
Required:
Compute Hiram's maximum cost recovery deduction for In making your computation, assume that taxable income before
depreciation exceeds $ Use Table
Note: Enter all amounts as positive values. Round your intermediate computations and final answers to the nearest whole dollar
amount.
Maximum cost recovery deduction
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