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Johnson acquired the following capital assets in 2020. Equipment $40,000 on October 24, warehouse $500,000 on May 4, computer 20,000 January 15, Johnson elects to
Johnson acquired the following capital assets in 2020. Equipment $40,000 on October 24, warehouse $500,000 on May 4, computer 20,000 January 15, Johnson elects to take 30,000 sections 179 expense on the equipment and elects out of bonus depreciation. There are no limits on the 179 expense. Calculate the total cost recovery (including the 179 expenses) for 2020.
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