Essay
On April 5, 2012, Orange Corporation purchased, and placed in service, seven-year class assets costing $500,000 and five-year class assets costing $140,000. Orange elects to expense the maximum amount under § 179. Orange does not take additional first-year depreciation. Assume taxable income is not a limitation. Determine Orange Corporation's cost recovery with respect to the assets for 2012.
Correct Answer:
Verified
Correct Answer:
Verified
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