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On July 10, 2016, V Corp. purchased energy equipment for $15,000. The equipment has a 5-year cost recovery period. The corporation took the appropriate investment
On July 10, 2016, V Corp. purchased energy equipment for $15,000. The equipment has a 5-year cost recovery period. The corporation took the appropriate investment credit for 2016. On August 15, 2020, the corporation sold the asset for $10,000. What is the amount of investment credit recapture that is due to the IRS?
a. $300
b. $900
c. $1,000
d. $1,500
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