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James purchased a new business asset (three-year personalty) on July 23, 2021, at a cost of $50,000. He did not elect to expense any of
James purchased a new business asset (three-year personalty) on July 23, 2021, at a cost of $50,000. He did not elect to expense any of the asset under 179, nor did he elect straight-line cost recovery. Neither did James elect to take additional first-year depreciation. Determine the cost recovery deduction for 2021
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College Accounting A Practical Approach Chapters 1-26
Authors: Jeffrey Slater
8th Edition
0130911429, 978-0130911421
