Determine the cost recovery deduction

Reference no: EM13124182

Bonnie purchased a new business asset (5 year property) on March 10, 2012 at a cost of $30,000. She also purchased a new business asset (7 year property) on November 20, 2012, at a cost of $13,000. Bonnie did not elect to expense either of the 2 assets under section 179 nor did she elect straight line cost recovery. Bonnie takes additional first year depreciation. Determine the cost recovery deduction for 2012 for these assets.

Reference no: EM13124182

Questions Cloud

Total production will increase at a diminishing rate : The present value of the gain from employing the new factory must be less or equal to $50 million and the rate of return from the new factory must be greater than 7%.

Compute interval for true mean delivery time : Suppose the population standard deviation is 0.3 minutes and the sample mean is 9.975. A 90-percent confidence interval for the true mean delivery time is?

Linear equation and line : A jazz concert brought in $179,500 on the sale of 8,700 tickets. if the tickets were sold for $15 and $25each, how many of each type of ticket were sold?

Describe the evolving accounting standards for recording : Describe the evolving accounting standards for recording and translating foreign exchange related transactions and financial statements?

Determine the cost recovery deduction : Determine the cost recovery deduction for 2012 for these assets.

Own field research : When conducting research, it's a good idea to search the databases available through your school's library before searching the Internet because information on the Internet is not always reliable.

Illustrate what conclusions can you draw concerning relative : Illustrate what conclusions can you draw concerning the relative liquidity and efficiency of this corporation? How does Target’s results compare to other companies in the same industry?

Left and right eigenvectors with distinct eigenvalues : Prove directly that the eigenvalues of A are purely imaginary. Prove that if x and y are eigenvalues associated to distinct eigenvalues, then they are orthogonal, i.e. x^H*y = 0

Value of the future cash flow : A company anticipates a taxable cash expense of $50,000 in year 2 of a project. The company's tax rate is 30% and its discount rate is 14%. The present value of this future cash flow is closest to ??

User Account

All Pages