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On April 5, 2012. Orange company purchased and placed in service, seven-year class assets costing $70,000 and five-year class assets costing $14,000. Orange elects to expense the maximum amount under Section 179. Orange elected not to deduct additional first-year depreciation. Assume taxable income is not a limitation. Determine Orange Corporation cost recovery with respect to the assets for 2012.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9948758

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