Question 2 Not yet answered Marked out of 1.00 James purchased a new business asset...
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Question 2 Not yet answered Marked out of 1.00 James purchased a new business asset (three year property) on July 23, 2020, at a cost of $50,000. He did not efect to expense any of the asset under $179, he elected not to take the additional first year cost recovery, nor did he elect straight line cost recovery. Determine the cost recovery deduction for 2020 Select one a $ 8,333 b. $17,333 c. $33,333 d $26,666
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