James purchased a new business asset (three-year personalty) on July 23, 2020, at a cost of $40,000. James takes additional first-year depreciation but does not elect 179 expense on the asset. Determine the cost recovery deduction for 2020.

a.$26,666

b.$8,333

c.$33,333

d.$40,000

Cora purchased a hotel building on May 17, 2020, for $3,000,000. Determine the cost recovery deduction for 2021.

a.$69,000

b.$59,520

c.$76,920

d.$48,150