- On September 1,2022 , Janette places in service listed property (MACRS 5 year property). The property cost $11,550. She elects not to take any available additional first-year depreciation. Janette uses the property 65% for business and 25% for the production income. accounts. During the current year, Iqra collected $55,600 on an account with face value of $78,500. Determine Janette's amount of cost recovery allowance for the year and Iqra's bad debt deduction for 2022 , respectively. $2,079 and \$0 $2,079 and $22,900 $1,502 and $650 $578 and $650 $578 and $0 $1,502 and $22,900