James Purchased a New Business Asset (Three-Year Personalty)on July 23,2013,at

question 6

Multiple Choice

James purchased a new business asset (three-year personalty) on July 23,2013,at a cost of $40,000.James takes additional first-year depreciation Determine the cost recovery deduction for 2013.

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