FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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On February 17, 2021, Brecken places in service an automobile that cost $23,000. Assume Brecken does not claim the additional first-year or any § 179 deduction. The auto is used 35% for business and 65% for personal use. Assume the luxury automobile limitations for Year 1 is $10,100.
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a. Compute the total depreciation allowed for 2021:
b. Assume that the automobile cost $45,000. Compute the total depreciation allowed for 2021:
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