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Audra acquires the following new 5-year class property in 2014: Asset Acquisition Date Cost A January 10 $106,000 B July 5 $70,000 C November 15
Audra acquires the following new 5-year class property in 2014:
Asset Acquisition Date Cost
A January 10 $106,000
B July 5 $70,000
C November 15 $250,000
Total $426,000
Audra elects Section 179 for Asset C. Audra's taxable income from her business would not create a limitation for purposes of the Section 179 deduction. If Congress reenacts additional first-year depreciation for 2014, Audra elects not to take additional first-year depreciation. Determine her total cost recovery deduction (including the Section 179 deduction) for the year.
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