b) c) Brian is considering starting his own small business this year in California. As a result,
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Brian is considering starting his own small business this year in California. As a result, he is putting together a budget for acquiring business assets that he is going to need to run his new business. As part of his planning he wants to calculate not just the amount of cash he has to set aside for purchases, but also the amount of cost recovery allowed. Based on his budgeting and planning, Brian decided that he can afford to acquire a 5-year class asset. Brian went ahead and made that purchase on April 10, 2020, for $45,000. If Brian sells the asset on May 9, 2021, what would be Brian's cost recovery deduction for 2021? $2,700 8 8 8 $7,200 $4,500 $4,320 Brian is considering starting his own small business this year in California. As a result, he is putting together a budget for acquiring business assets that he is going to need to run his new business. As part of his planning he wants to calculate not just the amount of cash he has to set aside for purchases, but also the amount of cost recovery allowed. Based on his budgeting and planning, Brian decided that he can afford to acquire a 5-year class asset. Brian went ahead and made that purchase on April 10, 2020, for $45,000. If Brian sells the asset on May 9, 2021, what would be Brian's cost recovery deduction for 2021? $2,700 8 8 8 $7,200 $4,500 $4,320
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