Jenna Acquires a New Seven-Year Class Asset on September 20

question 7

Essay

Jenna acquires a new seven-year class asset on September 20, 2018, for $80,000. She placed the asset in service on October 5, 2018. She does not elect to expense any of the asset under § 179 or elect straight-line, cost recovery. She takes additional first-year depreciation. She sells the asset on August 25, 2019. This is the only asset she acquires in 2018. Determine Jenna's cost recovery in 2018 and 2019.

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Definitions:

Customer-centric

describes a strategy that prioritizes the needs and desires of customers in the development and selling of products or services.

Repeat Customers

Individuals who repeatedly purchase goods or services from the same business or brand.

Loyalty Programs

Marketing strategies designed to encourage customers to continue to shop at or use the services of a business associated with the program.

Customer-facing CRM

Aspects of Customer Relationship Management systems that directly interact with customers, such as sales force automation, customer service, and marketing automation.