Hamlet acquires a 7-year class asset on November 23, 2019, for $264,600 (the only asset...
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Accounting
Hamlet acquires a 7-year class asset on November 23, 2019, for $264,600 (the only asset acquired during the year). Hamlet does not elect immediate expensing under 179. He does not claim any available additional first year depreciation. This is Hamlet's only tangible personal property acquisition for the year.
Use the Depreciation Table for this Problem.
If required, round your answers to the nearest dollar.
Calculate Hamlet's cost recovery deduction for 2019 and 2020. 2019: $ 2020: $
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