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Question 25 2 pts James purchased a new business asset (three-year personalty) on July 23, 2023, at a cost of $40,000. James takes additional

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Question 25 2 pts James purchased a new business asset (three-year personalty) on July 23, 2023, 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 2023. $8,333 $26,666 $34,666 O $40,000

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