Euclid acquires a 7-year class asset on May 9, 2016, for $80,000. Euclid does not elect immediate

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Euclid acquires a 7-year class asset on May 9, 2016, for $80,000. Euclid does not elect immediate expensing under § 179. She does not claim any available additional first-year depreciation. Calculate Euclid's cost recovery deduction for 2016 and 2017.
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South Western Federal Taxation 2017 Comprehensive

ISBN: 9781305874169

40th Edition

Authors: William H. Hoffman, David M. Maloney, William A. Raabe, James C. Young

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