No, since you replaced and entire hedge, it is a land improvement and must be depreciated. The general depreciation system assigns a 15-year recovery period to land improvements.
However, there are two safe harbor elections for this. 1) covers companies with no financial reports that can make an election to deduct up to $2500 PER pretty much invoice item; 2) small harbor for small businesses. That one is allows to deduct rather than capitalize either 2% of the unadjusted basis or $10K - whichever is less. TT allows both of those elections to be made
@ andreasbrinck
[Edited 3/3/21|11:17AM EST]
