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Gilbert is the proprietor of a small business. In 2018, the business income, before consideration of any cost recovery or 179 deduction, is $2,000,000. Gilbert
Gilbert is the proprietor of a small business. In 2018, the business income, before consideration of any cost recovery or 179 deduction, is $2,000,000. Gilbert spends $2,800,000 on new seven-year class assets (use half year convention), and elects to take the 179 deduction on them. He elects not to take additional first-year depreciation. Gilbert's cost recovery deduction for 2018, for 5-year assets( not purchased this year), is $780,000. D. Gilbert's total cost recovery depreciation deduction (including any 179 deduction) is?
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