Multiple Choice
James purchased a new business asset (three-year personalty) on July 23, 2019, at a cost of $40,000.James takes additional first-year depreciation but does not elect Section 179 expense on the asset.Determine the cost recovery deduction for 2019.
A) $8,333
B) $26,666
C) $33,333
D) $40,000
Correct Answer:
Verified
Correct Answer:
Verified
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