Hazel purchased a new business asset (five-year asset) on September 30, 2021, at a cost of $100,000. On October 4, 2021, she placed the asset in service. This was the only asset she placed in service in 2021. Hazel did not elect $ 179 or additional first-year depreciation. On August 20, 2022, Hazel sold the asset. Determine the cost recovery for 2022 for the asset. $18,000 Ob $14,250 O $23,750 O4 319,000
Hazel purchased a new business asset (five-year asset) on September 30, 2021, at a cost of $100,000. On October 4, 2021, she placed the asset in service. This was the only asset she placed in service in 2021. Hazel did not elect $ 179 or additional first-year depreciation. On August 20, 2022, Hazel sold the asset. Determine the cost recovery for 2022 for the asset. $18,000 Ob $14,250 O $23,750 O4 319,000
Chapter8: Depreciation, Cost Recovery, Amortization, And Depletion
Section: Chapter Questions
Problem 35P
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Transcribed Image Text:Hazel purchased a new business asset (five-year asset) on September 30, 2021, at a cost of $100,000. On October 4, 2021, she placed the asset in service. This was the
only asset she placed in service in 2021. Hazel did not elect § 179 or additional first-year depreciation. On August 20, 2022, Hazel sold the asset. Determine the cost
recovery for 2022 for the asset.
$38,000
Ob $14,250
O $23,750
Od $19,000
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ISBN:
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Author:
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Publisher:
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