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On April 5,2014,Orange Corporation Purchased,and Placed in Service,seven-Year Class Assets

Question 72

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On April 5,2014,Orange Corporation purchased,and placed in service,seven-year class assets costing $54,000 and five­year class assets costing $14,000.Orange elects to expense the maximum amount under § 179.Orange does not take additional first-year depreciation (if available).Assume taxable income is not a limitation.Determine Orange Corporation's cost recovery with respect to the assets for 2014.

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§ 179 limit $25,000
Seven-year...

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