Ed is a professional photographer. He has been very successful over the years and has been retained to do professional advertising photo layouts for products like polo equipment, sports clothing, and golf equipment. He maintains a studio in an industrial warehouse where he does most of the photography. In early January of 2019, he acquired two exotic cars: a new McLaren 600LT and a 2017 Ferrari 488 Spider. He acquired the McLaren for $275,000and the Ferrari for $290,000. The exotic automobiles did not have license plates and were not set up to be used on the street. They were not driven and were used exclusively for his photoshoots. Ed would like to depreciate the cars to reduce his 2019 tax burden. He has come to you to see if he can take a cost recovery deduction on his tax return for these autos. In answering this question, use only CCH AnswerConnect. Provide the following in your response: a. The search terms used to arrive at your conclusion. At least one case supporting your conclusion (cite in proper form)c.Use the citator feature in CCH AnswerConnect: i. Determine the status of the case. Is it still valid? ii. List at least two citing cases.

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