Question
In April 2020, Lenape Corporation completed security, fire, and heating system improvements to existing nonresidential real property with a total cost of $1,275,000. Assuming these
In April 2020, Lenape Corporation completed security, fire, and heating system improvements to existing nonresidential real property with a total cost of $1,275,000. Assuming these improvements are 39-year recovery property and qualify for the Section 179 deduction, calculate Lenape's total cost recovery on the improvements for 2020. UseTable 7-4.(Round your intermediate calculations to the nearest whole dollar amount. Enter the MACRS percentage in decimals. (i.e.12.34 should be entered as 0.1234).)
Total cost of qualifying improvement
Section 179 election/2020 dollar amount
Tax basis recoverable through MACRS.
First year MACRS percentage
First year MACRS Depreciation
Total Cost Recovery
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