Question: (FOR THIS QUESTION I NEED TO KNOW WHY IT IS 2.5/4.0, PLEASE EXPLAIN IN DETAIL HOW YOU USE THE MID QUARTER CONVENTION FOR THIS PROBLEM

(FOR THIS QUESTION I NEED TO KNOW WHY IT IS 2.5/4.0, PLEASE EXPLAIN IN DETAIL HOW YOU USE THE MID QUARTER CONVENTION FOR THIS PROBLEM ) Hazel purchased a new business asset (five-year asset) on September 30, 2017, at a cost of $100,000. On October 4, 2017, Hazel placed the asset in service. This was the only asset Hazel placed in service in 2017. Hazel did not elect 179 or additional first-year depreciation. On August 20, 2018 Hazel sold the asset. Determine the cost recovery for 2018 for the asset.

A. 14,250

B.19,000

C.23,750

D.38,000

E. none of the above.

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