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Augie purchased one new asset during the year (five-year property) on November 10, 2009, at a cost of $600,000. She made the 179 election.
Augie purchased one new asset during the year (five-year property) on November 10, 2009, at a cost of $600,000. She made the § 179 election. The income from the business before the cost recovery deduction and the § 179 deduction was $500,000. Determine the total cost recovery deduction with respect to the asset for 2009. 1. $120,000 2. $433,750 3. $552,500 4. $600,000 5. None of the above.I need the formula tks