f. The vehicle cost $80,000 and is an SUV that weighs 6,500 pounds. Business use was 100 percent.
f. The vehicle cost $80,000 and is an SUV that weighs 6,500 pounds. Business use was 100 percent.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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.)
f. The vehicle cost $80,000 and is an SUV that weighs 6,500 pounds. Business use was 100
percent.
Depreciation
Year
deduction
2023
2024](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F98a95248-6313-4124-8c48-8cf374831d55%2F6e51dd54-ee31-4156-b6d4-f3492c3732c4%2Fupesll_processed.png&w=3840&q=75)
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Required information
[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.)
f. The vehicle cost $80,000 and is an SUV that weighs 6,500 pounds. Business use was 100
percent.
Depreciation
Year
deduction
2023
2024
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