Exercise 8-23 (Algorithmic) (LO. 2, 3) Diana acquires, for $154,400, and places in service a 5-year class asset on December 19, 2023. It is the only asset that Diana acquires during 2023. Diana does not elect immediate expensing under 179. She elects additional first-year deprecation. Click here to access the depreciation table to use for this problem. Calculate Diana's total cost recovery deduction for 2023. X Feedback Check My Work Additional first-year depreciation (also referred to as bonus depreciation) allows taxpayers to take an additional amount of cost recovery in the year qualified property is placed in service.

Exercise 8-23 (Algorithmic) (Lo, 2, 3) Diana acquires, for $154,400, and places in service a 5-year class asset on December 19, 2023. It is the only asset that Diana acquires during 2023. Diana does not elect immediate expensing under 5 179, She elects additional first-year deprecation. Click here to access the depreciation table to use for this problem. Calculate Diana's total cost recovery deduction for 2023. X TOeak Mor Wh Additionat first-year depreciation (also referred to as bonus depreciation) aliows taxpayers to take an additional amount of cost recovery in the year qualified property is placed in service. MACRS Straight-Line Depreciation for Real Property Assuming Mid-Month Convention* (Percentage Rates) ADS Straight-Line for Real Property Assuming Mid-Mont Convention (Percentage Rates)