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London incurred $7,000 in actual expenses to operate the vehicle she uses in her home health aide business. During the year, London drove the vehicle a total of 12,000 miles. From January 1 to June 30, she had 1,500 business- use miles. From July 1 to December 31, she had 2,000 business-use miles. 2,500 miles were commuting miles. What is London's maximum vehicle expense deduction? $2,048 $2,128 $2.188 $7,000

London incurred $7,000 in actual expenses to operate the vehicle she uses in her home health aide business. During the year, London drove the vehicle a total of 12,000 miles. From January 1 to June 30, she had 1,500 business- use miles. From July 1 to December 31, she had 2,000 business-use miles. 2,500 miles were commuting miles. What is London's maximum vehicle expense deduction? $2,048 $2,128 $2.188 $7,000

FINANCIAL ACCOUNTING
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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London incurred $7,000 in actual expenses to operate the vehicle she uses in her home health aide business. During the year, London drove the vehicle a total of 12,000 miles. From January 1 to June 30, she had 1,500 business- use miles. From July 1 to December 31, she had 2,000 business-use miles. 2,500 miles were commuting miles. What is London's maximum vehicle expense deduction? $2,048 $2.128 $2.188 $7,000
Transcribed Image Text:London incurred $7,000 in actual expenses to operate the vehicle she uses in her home health aide business. During the year, London drove the vehicle a total of 12,000 miles. From January 1 to June 30, she had 1,500 business- use miles. From July 1 to December 31, she had 2,000 business-use miles. 2,500 miles were commuting miles. What is London's maximum vehicle expense deduction? $2,048 $2.128 $2.188 $7,000
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