Millie purchased a new 5-year class business asset on September 30, 2016, at a cost of $100,000. On October 4, 2016, Millie placed the asset in service. This was the only asset Millie placed in service in 2016. Millie did not elect Section 179 or additional first-year depreciation, if available. On August 20th of 2017, Millie sold the asset. What is the cost recovery amount for 2017 for this asset?

a.$14,250

b.$19,000

c.$23,750

d.$38,000

e.None of these choices are correct.

Answer rating: 100% (QA)

Option 23750 is the correct answer Calculate the cost recovery deduction for the vear 2017 The v... View the full answer