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On November 23, 2023, Hamlet acquires and places in service a 7-year class asset with a cost of $100,000 (the only asset acquired during

 

On November 23, 2023, Hamlet acquires and places in service a 7-year class asset with a cost of $100,000 (the only asset acquired during the year). Hamlet does not elect immediate expensing under 179. He does not claim any available additional first-year (bonus) depreciation. Click here to access the depreciation table to use for this problem. If required, round your answers to the nearest dollar. Calculate Hamlet's cost recovery deduction for 2023 and 2024. 2023: $ 7,143 X 2024: $ 24,490 X

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