Sid bought a new $1,320,000 seven-year class asset on August 2, 2022. On December 2,...
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Accounting
Sid bought a new $1,320,000 seven-year class asset on August 2, 2022. On December 2, 2022, he purchased $800,000 of used five-year class assets. If Sid elects 179 and does not take additional first-year depreciation, what is the maximum cost recovery deduction for these purchases for 2022?
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