The tax law provides four methods of cost recovery for assets: 1) immediate deduction of the total cost when paid or incurred; 2) deferral of cost until the property is sold or otherwise disposed of; 3) deduction based on a percentage of income from the property over its life; and 4) deduction over a period of years, beginning at the date of acquisition, using a consistent method. Provide examples of each and explain the reasoning underlying each method.