Barry purchased a used business asset (seven-year property) on september 30, 2017, at a cost of $200,000. this is the only asset he purchased during the year. barry did not elect to expense any of the asset under § 179, did not take additional first-year depreciation, and did not elect straight-line cost recovery. barry sold the asset on july 17, 2018. determine the cost recovery deduction for 2018. a. $19,133 b. $24,490 c. $34,438 d. $55,100 e. none of the above
Depreciation percentage in 2018 = 24.49%*50%
Cost recovery deduction = 200000*12.245%
Therefore, The cost recovery deduction for 2018 $24490.
all of them make sense but, i would have to say ask someone who has been there/or lives there, and/or read recent newspapers from that city.
hope this !