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Hyaa Inc. acquires and places in service a used copier on November 1, 2020 at a cost of $583,000. It does not purchase or place
Hyaa Inc. acquires and places in service a used copier on November 1, 2020 at a cost of $583,000. It does not purchase or place into service any other assets during the year. The corporation does not elect IRC Section 179 for any of its assets. The corporation has taxable income, before any IRC Sect. 179 deduction, of $2.9 million for the year. What is the total amount of cost recovery deductions that the corporation can take on the copier for 2020?________ 2021?________
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