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Janelle acquires a used seven-year class asset on November 3, 2020, for $40,000. She does not elect to expense any of the asset under 179
Janelle acquires a used seven-year class asset on November 3, 2020, for $40,000. She does not elect to expense any of the asset under 179 or straight-line cost recovery. No election for additional depreciation is made. She sells the asset on December 4, 2021. This is the only asset she acquires in 2019. Determine Janelles cost recovery depreciation in 2020 and 2021.
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