Lina purchased a new car for us
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)
Problem 10-67 Part b (Algo)
b. The vehicle cost $84,200, and business use is 100 percent
Year
2023
2024
Depreciation
deduction
A](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fa05daa89-f797-4742-9ccb-a63cbc764296%2F9d2d4780-9f10-4571-b668-2e2fca5bdfdc%2Fe2a042q_processed.jpeg&w=3840&q=75)
Transcribed Image Text: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 $84,200, and business use is 100 percent
Year
2023
2024
Depreciation
deduction
A
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