Question
During 2020, David purchased a new factory building and land on September 10, 2020, for $3,700,000 ($500,000 of the purchase price was allocated to land).
During 2020, David purchased a new factory building and land on September 10, 2020, for $3,700,000 ($500,000 of the purchase price was allocated to land). He didn't elect an alternative depreciation system.In addition during 2020, David acquires and places in service a new SUV that cost $67,580 and weight 6,300 pounds. David uses the vehicle 100% of the time for business use and elects not to use bonus depreciation. His business income is $110,000. What is the total cost recovery deduction for 2020 with respect to the SUV? Round your answer to the nearest dollar.
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