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Euclid acquires a 7-year class asset on May 9, 2020, for $284,600 (the only asset acquired during the year). Euclid does not elect immediate expensing
Euclid acquires a 7-year class asset on May 9, 2020, for $284,600 (the only asset acquired during the year). Euclid does not elect immediate expensing under 179. She does not claim any available additional first-year depreciation. Calculate Euclids cost recovery deduction for 2020 and 2021.
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