Olga is the proprietor of a small business in 2015 the


Olga is the proprietor of a small business. In 2015, the business's income, before consideration of any cost recovery or § 179 deduction, is $250,000. Olga spends $600,000 on new 7-year class assets and elects to take the § 179 deduction on them. She does not claim any available additional first-year depreciation. Olga's cost recovery deduction for 2015, except for the cost recovery with respect to the new 7-year assets, is $95,000. Note: If required, round your answers to the nearest dollar. Assume that the 2014 additional first-year depreciation and § 179 amounts are extended to 2015

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Financial Accounting: Olga is the proprietor of a small business in 2015 the
Reference No:- TGS01261538

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