Question

. Carlos purchased an apartment building on November 16, 2017, for $3,000,000. Determine the cost recovery for 2017.

a. $9,630
b. $11,910
c. $13,950
d. $22,740
e. None of the above

Answer 1

option C

Step-by-step explanation:

given,

Cost apartment building on November 16, 2017 of cost = $3,000,000

Cost of recovery for 2017

Cost of recovery is defined as the method to recover the expenditure from the business.

In simple word we can say that Cost of recovery is recovering the expense.

Cost of recovery = 0.00445 x $3,000,000

= $13,350

hence, the correct answer is option C