Barry purchased a used business asset (seven-year property) on September 30, 2019, at a cost of $200,000. This is the only asset he purchased during the year. Barry did not elect to expense any of the asset under § 179, did not claim additional first-year depreciation, and did not elect straight-line cost recovery. Barry sold the asset on July 17, 2020. Determine the cost recovery deduction for 2020.

True or false: a fitted model with more predictors will necessarily have a lower training set error than a model with fewer predictors.

Four students are at an extracurricular activity fair at their high school and are trying to decide which clubs to join. some information about the students is listed in this chart: which describes which ctso each student should join?

Cherokee inc. is a merchandiser that provided the following information: amount number of units sold 20,000 selling price per unit $ 30 variable selling expense per unit $ 4 variable administrative expense per unit $ 2 total fixed selling expense $ 40,000 total fixed administrative expense $ 30,000 beginning merchandise inventory $ 24,000 ending merchandise inventory $ 44,000 merchandise purchases $ 180,000 required: 1. prepare a traditional income statement. 2. prepare a contribution format income statement.