Tom bought a new $ 1,320,000 seven- year class asset on August 3, 2021. On December 2, 2021, he purchased $800,000 of us

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answerhappygod
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Tom bought a new $ 1,320,000 seven- year class asset on August 3, 2021. On December 2, 2021, he purchased $800,000 of us

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Tom bought a new $ 1,320,000 seven- year class asset on August3, 2021. On December 2, 2021, he purchased $800,000 of used fiveyear class assets. If Tom elects code section 170 and does not takethe additional first year depreciation, what is the maximum costrecovery deduction for the purchase for 2021?
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