In 2020, Eileen, a self-employed nurse, drives her car 20,000 miles, of which 12,000 miles pertain to business. Expenses concerning the car include the following: $5,720 90 900 700 400 300 150 2,960 Gas and oil Auto license tag Insurance Repairs Tires Parking during business use Tolls during business use Depreciation Assuming Eileen purchases the car in 2020 and she wants to use the most advantageous method to determine her 2020 deduction for automobile expense, what amount can Eileen deduct as auto expenses? Oa. $6,462 Ob. $7,350 Oc. $6.912 Od. $10,770 Oe. $6,540

In 2020, Eileen, a self-employed nurse, drives her car 20,000 miles, of which 12,000 miles pertain to business. Expenses concerning the car include the following: $5,720 90 900 700 400 300 150 2,960 Gas and oil Auto license tag Insurance Repairs Tires Parking during business use Tolls during business use Depreciation Assuming Eileen purchases the car in 2020 and she wants to use the most advantageous method to determine her 2020 deduction for automobile expense, what amount can Eileen deduct as auto expenses? Oa. $6,462 Ob. $7,350 Oc. $6.912 Od. $10,770 Oe. $6,540

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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