Georgia purchased an asset for her business that cost $1,800,000 and was the only asset placed in service for the year. The business has taxable income of $5,000,000 before consideration of any cost recovery.

a. The asset was placed in service on January 15, 2020. What is Georgia’s maximum cost recovery for 2020 if the asset is a packaging machine (7-year recovery class) and she did not elect to use §179 or bonus depreciation?

b. The asset was purchased on August 15, 2020 and was placed in service on September 15, 2020. What is Georgia’s maximum cost recovery for 2020 if the asset is computer equipment (5-year recovery class) and she does elect to use Section 179 expense?

c. The asset was purchased on August 7, 2020 and was placed in service on September 7, 2020. What is Georgia’s maximum cost recovery for 2020 if the asset is a warehouse and $600,000 of the above cost is allocated to the land?