On may 5 2013 dan purchased and placed in service a 7-year, Financial Accounting

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On may 5 2013 dan purchased and placed in service a 7-year

On May 5, 2013, Dan purchased and placed in service a 7-year class asset costing $720,000.

Compute the maximum deductions that Dan can claim with respect to this asset in 2013 and 2014.

Note: If required round your intermediate computations and final answers to the nearest dollar.

Dan's total cost recovery deduction for 2013 is $.

Dan's total cost recovery deduction for 2014 is $.

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Financial Accounting: On may 5 2013 dan purchased and placed in service a 7-year

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Financial Accounting: On may 5 2013 dan purchased and placed in service a 7-year

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