Discussion Question $8-6($LO$.2)$

How is cost recovery computed for an asset, in the year it is placed in service, when the mid$-$quarter convention applies?

Enter numerical values as a decimal to one decimal place, if required $($i$.$e$.8\mathrm{.}5).$

If more than

$\%$ of the value of property, other than

quarter of the year, the mid$-$quarter convention applies.

is placed in service during

Based on when the asset is placed in service, the first quarter is allowed allowed

months of cost recovery; the third quarter is allowed

months of cost recovery; the second quarter is months of cost recovery; and, the fourth

quarter is allowed

months of cost recovery.