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Determine the cost recovery

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Problem - Kendra Brown, a sole proprietor, acquires a new five-year asset on April 17, 2020, for $58,000 (for business-use). This is the only asset Kendra acquired during the year. Kendra does NOT elect $179 (and elects out of bonus depreciation). On September 1, 2021, she sells the asset.

Required -

a. Determine the cost recovery for 2020.

b. Determine the cost recovery for 2021.

Reference no: EM132813657

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