James Purchased a New Business Asset (Three-Year Personalty) on July

Multiple Choice

James purchased a new business asset (three-year personalty) on July 23,2015,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 2015.

A) $8,333
B) $26,666
C) $33,333
D) $41,665
E) None of the above