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Firm O purchased two items of business personalty this year. The first item cost $35,000 and has a five-year recovery period, and the second item
Firm O purchased two items of business personalty this year. The first item cost $35,000 and has a five-year recovery period, and the second item cost $61,500 and has a seven-year recovery period. Firm O wants to make the Section 179 election for one of its new assets. Which asset should the firm choose and why?
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