Question: 4). Sid bought a new $1,320,000 seven-year class asset on August 2, 2019. On December 2, 2019, he purchased $800,000 of used five-year class assets.

4). Sid bought a new $1,320,000 seven-year class asset on August

4). Sid bought a new $1,320,000 seven-year class asset on August 2, 2019. On December 2, 2019, he purchased $800,000 of used five-year class assets. If Sid elects 179 and does not take additional first- year depreciation, what is the maximum cost recovery deduction for these purchases for 2019? ($ 179 can only be elected once on one class of assets per year.)

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