Augie purchased one new asset during the year (five-year property) on November 10,2015,at a cost of $650,000.She would like to use the § 179 election and will also take additional first-year depreciation,if available.The income from the business before the cost recovery deduction and the § 179 deduction was $600,000.Determine the total cost recovery deduction with respect to the asset for 2015.
A)$22,500
B)$154,550
C)$500,000
D)$600,700
E)None of the above

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The Answer of Augie purchased one new asset during the year (five-year property) on November 10,2015,at a cost of $650,000.She would like to use the § 179 election and will also take additional first-year depreciation,if available.The income from the business before the cost recovery deduction and the § 179 deduction was $600,000.Determine the total cost recovery deduction with respect to the asset for 2015.
A)$22,500
B)$154,550
C)$500,000
D)$600,700
E)None of the above

Augie Purchased One New Asset During the Year (Five-Year Property)