Business, 15.11.2019 00:31, HistoryLee

James purchased a new business asset (three-year personalty) on july 23, 2017, at a cost of $40,000. james takes additional first-year depreciation but does not elect section 179 expense on the asset. determine the cost recovery deduction for 2017.
a. $8,333
b. $26,666
c. $33,333
d. $41,665
e. none of the above

Answers: 1

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James purchased a new business asset (three-year personalty) on july 23, 2017, at a cost of $40,000....