Bonnie purchased a new business asset (five-year property) on March 10, 2007, at a cost of $20,000. She also purchased a new business asset (seven-year property) on November 20, 2007, at a cost of $13,000. Bonnie did not elect to expense either of the assets under Â§ 179, nor did she elect straight-line cost recovery. Determine the cost recovery deduction for 2007 for these assets. a. $5,858. b. $7,464. c. $9,586. d. $12,333. e. None of the above.
Paper#3636 | Written in 18-Jul-2015Price : $25