Question: Sid bought a new $700,000, seven-year class asset on August 2, 2011. On December 2, 2011, he purchased $160,000 of used five-year class assets. If

Sid bought a new $700,000, seven-year class asset on August 2, 2011. On December 2, 2011, he purchased $160,000 of used five-year class assets. If Congress reenacts additional first-year depreciation for 2011, Sid elects not to take additional first-year depreciation. If Sid elects

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