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Hazel purchased a new business asset (5-year property) on September 30,2024, at a cost of...

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Accounting

Hazel purchased a new business asset (5-year property) on September 30,2024, at a cost of $100,000. On October 4,2024, she placed the asset in service. This was the only asset she placed in service in 2024. Hazel did not elect 179 or additional first-year depreciation. On August 20,2025, Hazel sold the asset. Determine the cost recovery for 2025 for the asset.
a.$23,750
b.$38,000
c.$14,250
d.$19,000a.In the following year, using a half-year convention.
b.In the following year, using a mid-quarter convention.
c.In the current year, using a half-year convention.
d.In the current year, using a mid-quarter convention.

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