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Barry purchased a business asset (5 year property) on Novemeber 30, 2019 at a cost of $100,000. This is the only asset he purchased during
Barry purchased a business asset (5 year property) on Novemeber 30, 2019 at a cost of $100,000. This is the only asset he purchased during the year. BArry did not elect to expense any of the asset under section 179, nor did he elect straight line cost recovery and he elected out of an additional first year depreciation. Barry sold the asset on May 17, 2020. Determine the cost recovery for 2020.
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