Determine the recovery period for the furniture

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Reference no: EM131506298

Question: Your company just purchased office furniture (asset class 00.11) for $100,000 and placed it in service on August 13, 2007. The cost basis for the furniture is $100,000, and it will be depreciated with the GDS using half-year convention. The expected salvage (market) value of the furniture is $5,000 in 2015. Determine the recovery period for the furniture and its depreciation deductions over the recovery period.

Reference no: EM131506298

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