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Jeffrey bought equipment and a car to use in his business and placed the items in service on the day that he bought them. The
Jeffrey bought equipment and a car to use in his business and placed the items in service on the day that he bought them. The equipment cost $1,000,000 and was purchased on November 1, 2019. The car cost $20,000 and was purchased on June 1, 2019. What is Jeffreys depreciation for year 2019? 2020?
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