Augie purchased one new asset during the year (five-year property) on November 10, 2009, at a cost
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Augie purchased one new asset during the year (five-year property) on November 10, 2009, at a cost of $600,000. She made the § 179 election. The income from the business before the cost recovery deduction and the § 179 deduction was $500,000. Determine the total cost recovery deduction with respect to the asset for 2009.
1. $120,000
2. $433,750
3. $552,500
4. $600,000
5. None of the above.
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Related Book For
South-Western Federal Taxation 2020 Comprehensive
ISBN: 9780357109144
43rd Edition
Authors: David M. Maloney, William A. Raabe, James C. Young, Annette Nellen, William H. Hoffman
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