b. The vehicle cost $82,000, and business use is 100 percent. Year 2023 2024 Depreciation deduction $ 12,200
b. The vehicle cost $82,000, and business use is 100 percent. Year 2023 2024 Depreciation deduction $ 12,200
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![Required information
Problem 10-67 (LO 10-3) (Algo)
[The following information applies to the questions displayed
below.]
Lina purchased a new car for use in her business during 2023.
The auto was the only business asset she purchased during the
year, and her business was extremely profitable. Calculate her
maximum depreciation deductions (including §179 expense
unless stated otherwise) for the automobile in 2023 and 2024
(Lina doesn't want to take bonus depreciation for 2023 or 2024)
in the following alternative scenarios (assuming half-year
convention for all): (Use MACRS Table 1, Table 2, and
Exhibit 10-10.)
Problem 10-67 Part b (Algo)
b. The vehicle cost $82,000, and business use is 100 percent.
Year
2023
2024
Depreciation
deduction
$ 12,200](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F5406c9d9-5822-46a0-b732-422606cc28b2%2F96a8db74-15fd-4d75-8b9e-b69789353b01%2F84zzrp7_processed.png&w=3840&q=75)
Transcribed Image Text:Required information
Problem 10-67 (LO 10-3) (Algo)
[The following information applies to the questions displayed
below.]
Lina purchased a new car for use in her business during 2023.
The auto was the only business asset she purchased during the
year, and her business was extremely profitable. Calculate her
maximum depreciation deductions (including §179 expense
unless stated otherwise) for the automobile in 2023 and 2024
(Lina doesn't want to take bonus depreciation for 2023 or 2024)
in the following alternative scenarios (assuming half-year
convention for all): (Use MACRS Table 1, Table 2, and
Exhibit 10-10.)
Problem 10-67 Part b (Algo)
b. The vehicle cost $82,000, and business use is 100 percent.
Year
2023
2024
Depreciation
deduction
$ 12,200
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