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Question: 2 iris placed in service a new business asset fiveyear...

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2. Iris placed in service a new business asset (five-year property) on November 30, 2017, at a cost of $100,000. This was the only asset acquired by Iris during 2017. She did NOT elect to expense any of the asset cost under § 179. Iris elected OUT of bonus depreciation (therefore no additional first year depreciation).

(a) Determine her cost recovery for 2017.

(b) Determine cost recovery in 2018 (year 2)

(c) Determine cost recovery in 2017 if bonus depreciation had been used.

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