2. yellow company purchased the following assets on dec 1,2021 and placed them in service on the dates shown. ABC elected not to use bonus depreciation. • Computer Equipment 3/1/2022, total installed price = 250000(5year-property) • Communications Equipment 9/1/2022, total installed price=2800000(7year-property) • a.what is the maximum allowed cost recovery for 2022 for the communications equipment only?

2. yellow company purchased the following assets on dec 1,2021 and placed them in service on the dates shown. ABC elected not to use bonus depreciation. • Computer Equipment 3/1/2022, total installed price = 250000(5year-property) • Communications Equipment 9/1/2022, total installed price=2800000(7year-property) • a.what is the maximum allowed cost recovery for 2022 for the communications equipment only?

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter7: Operating Assets

Section: Chapter Questions

Problem 11MCQ

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