Tom acquires a 7-year class asset on November 1, 2019 for $100,000. Tom does not...
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Accounting
Tom acquires a 7-year class asset on November 1, 2019 for $100,000. Tom does not elect immediate expensing under Section 179. He does not claim any available additional first-year depreciation. Calculate Toms cost recovery deductions for 2019 and 2020.
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