Barry purchased a used business asset (seven-year property) on September 30, 2019, at a cost of $200,000. This is the only asset he purchased during the year. Barry did not elect to expense any of the asset under § 179, did not claim additional first-year depreciation, and did not elect straight-line cost recovery. Barry sold the asset on July 17, 2020. Determine the cost recovery deduction for 2020.
A. $19,133
B. $24,490
C. $34,438
D. $55,100
Answer: B
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