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Hazel purchased a new business asset (five-year property) on November 30, 2017, at a cost of $100,000. This was the only asset acquired by Hazel
Hazel purchased a new business asset (five-year property) on November 30, 2017, at a cost of $100,000. This was the only asset acquired by Hazel during 2017. On January 7, 2018, Hazel place the asset in service. She did not elect to expense any of the asset cost under 179, nor did she elect straight-line cost recovery. On October 25, 2019, Hazel sold the asset. Determine the cost recovery for 2017, 2018 and 2019.
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