On April 5,2011,Orange Corporation purchased,and placed in service,seven-year class assets costing $700,000 and five-year class assets costing $1,400,000.Orange elects to expense the maximum amount under § 179.Orange elected not to deduct additional first-year depreciation.Assume taxable income is not a limitation.Determine Orange Corporation's cost recovery with respect to the assets for 2011.

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The Answer of On April 5,2011,Orange Corporation purchased,and placed in service,seven-year class assets costing $700,000 and five-year class assets costing $1,400,000.Orange elects to expense the maximum amount under § 179.Orange elected not to deduct additional first-year depreciation.Assume taxable income is not a limitation.Determine Orange Corporation's cost recovery with respect to the assets for 2011.

On April 5,2011,Orange Corporation Purchased,and Placed in Service,seven-Year Class Assets