Determine the cost recovery for the asset

Assignment Help Accounting Basics

Reference no: EM131912837

Problem

Mary purchased a new business asset (five-year asset) on September 30, 2015, at a cost of $100,000. On October 4, 2016, Mary placed the asset in service. This was the only asset Mary placed in service in 2016. Mary did not elect § 179 or additional first-year depreciation if available.

Determine the cost recovery for 2016 for the asset.

Reference no: EM131912837

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