James Purchased a New Business Asset (Three-Year Personalty) on July

question 32

Multiple Choice

James purchased a new business asset (three-year personalty) on July 23, 2012, at a cost of $40,000.James takes additional first-year depreciation Determine the cost recovery deduction for 2012.

• A)$8,333.
• B)$26,666.
• C)$33,333.
• D)$41,665.
• E)None of the above.

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