Question
Honora Corp places in service a super computer on June 7, 2020 with a capitalized cost of $60,000. No other assets were placed in service
Honora Corp places in service a super computer on June 7, 2020 with a capitalized cost of $60,000. No other assets were placed in service during the year. Honora Corp. elects out of any potential additional first-year (bonus) depreciation. Total taxable income for Honora Corp. before any cost recovery for the year was $973.250. How much of a cost recovery deduction will Honora Crop. take on the super computer above for 2020?
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