Compute the allowable cost recovery deductions reported

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On July 2 of 2014, Corporation ABC purchased a 7year personalty asset for $65,000, and on October of 2015, placed in service a 15 years asset which was purchased for $38,000. ABC takes advantage of Section 179 deductions for both assets. Compute the allowable cost recovery deductions reported for these two assets in 2014 and 2015 respectively; round up to the nearest dollar

Reference no: EM131211223

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Compute the allowable cost recovery deductions reported : On July 2 of 2014, Corporation ABC purchased a 7year personalty asset for $65,000, and on October of 2015, placed in service a 15 years asset which was purchased for $38,000. ABC takes advantage of Section 179 deductions for both assets. Compute the ..

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