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James purchased a new business asset (three-year personalty) on July 23, 2019, at a cost of $50,000. James takes additional first-year depreciation but does not

James purchased a new business asset (three-year personalty) on July 23, 2019, at a cost of $50,000. James takes additional first-year depreciation but does not elect Section 179 expense on the asset. Determine the maximum allowable cost recovery deduction for 2019. Assume taxable income limitations are not applicable. Why might James not want to choose the maximum allowable cost recovery deduction?

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