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Harry purchased a seven-year business asset (not listed property) on July 30, 2008, at a cost of $100,000. The asset was not new when Harry acquired it. Harry did not elect to expense under Section 179 nor did he elect straight-line cost recovery. Harry sold the asset on February 11, 2010. What is Harry's cost recovery for 2010?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9982281

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