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Hamlet acquires and place into service a 5-year class asset on December 23, 2020, for $100,000 (the only asset acquired during the year). Hamlet does
Hamlet acquires and place into service a 5-year class asset on December 23, 2020, for $100,000 (the only asset acquired during the year). Hamlet does not elect immediate expensing under 179. He does not claim any available additional first-year depreciation. Calculate Hamlet's cost recovery deductions for 2021.
18. Hamlet acquires and place into service a 5-year class asset on December 23, 2020, for $100,000 (the only asset acquired during the year). Hamlet does not elect immediate expensing under $ 179. He does not claim any available additional first-year depreciation. Calculate Hamlet's cost recovery deductions for 2021. You must show your computations to get any credit! Exhibit 8.3 Excerpt from MACRS Half Year Table Year 1. 2. 3. (3-Year) 33.33 44.45 14.81 (5-Year) 20.00 32.00 19.20 (7-Year) 14.29 24.49 18.00 (10-Year) 10.00 18.00 14.40 Exhibit 8.4 Excerpt from MACRS Mid-Quarter Tables 3 Year Recovery Year First Quarter Second Quarter 58.33 41.67 2. 27.78 38.89 1. Third Quarter 25.00 50.00 Fourth Quarter 8.33 61.11 5 Year Recovery Year First Quarter 1. 35.00 2. 26.00 Second Quarter 25.00 30.00 Third Quarter 15.00 34.00 Fourth Quarter 5.00 38.00 You must show your computations to get any credit!
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