Question
Debra acquired the following new assets. Calculate Debras total depreciation Date Recovery Period Original Cost April 11 7 year $60,000 July 28 5 year $60,000
Debra acquired the following new assets. Calculate Debras total depreciation
Date Recovery Period Original Cost
April 11 7 year $60,000
July 28 5 year $60,000
October 1 5 year $70,000
November 15 7 year $400,000
Debra elects to take $300,000 of 179 expense from the asset purchased on November 15th
Debra elects to take bonus depreciation from the asset purchased on October 1st
No other 179 or bonus depreciation is taken. Assume there is enough taxable income to make all elections. Assume assets were purchased in 2020, and Calculate 2020 total depreciation
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