Question
At the beginning of the year, Anna began a calendar-year business and placed in service the following assets during the year: Asset Date Acquired Cost
At the beginning of the year, Anna began a calendar-year business and placed in service the following assets during the year:
| Asset | Date Acquired | Cost Basis |
| Computers | 1/30 | $ 28,000 |
| Office desks | 2/15 | 32,000 |
| Machinery | 7/25 | 75,000 |
| Office building | 8/13 | 400,000 |
Assuming Anna does not elect 179 expensing and elects not to use bonus depreciation, answer the following questions:
a. What is Annas year 1 cost recovery for each asset?
b. What is Annas year 2 cost recovery for each asset?
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Auditing Social Media A Governance And Risk Guide
Authors: Peter R. Scott, J. Mike Jacka
1st Edition
1118061756, 978-1118061756
