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Hazel purchased a new business asset (3-year property) and placed it in service on January 7, 2016, at a cost of $100,000. She did not
Hazel purchased a new business asset (3-year property) and placed it in service on January 7, 2016, at a cost of $100,000. She did not elect to expense any of the asset cost under Section 179, nor did she elect straight-line cost recovery. Hazel did elect not to take additional first-year depreciation, and she acquired no other assets during 2016. On October 25, 2017, Hazel sold this asset. Determine Hazels cost recovery deduction on this asset for 2017.
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