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Tupper Corp. purchases a new auto in 2022 for $62,000. The auto is used 100 percent for business and the half-year convention applies. Tupper uses bonus. when available. What is the 2023 depreciation for this auto?

Tupper Corp. purchases a new auto in 2022 for $62,000. The auto is used 100 percent for business and the half-year convention applies. Tupper uses bonus. when available. What is the 2023 depreciation for this auto?

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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eBook Multiple Choice 8-16 Limitation on Depreciation of Luxury Automobiles (LO 8.5) Tupper Corp. purchases a new auto in 2022 for $62,000. The auto is used 100 percent for business and the half-year convention applies. Tupper uses bonus de when available. What is the 2023 depreciation for this auto? Click here to access the depreciation table and click here to access the annual automobile depreciation limitations. Oa. $13,696 Ob. $19,200 Oc. $19,840 Od. $18,000 Oe. $12,400
Transcribed Image Text:eBook Multiple Choice 8-16 Limitation on Depreciation of Luxury Automobiles (LO 8.5) Tupper Corp. purchases a new auto in 2022 for $62,000. The auto is used 100 percent for business and the half-year convention applies. Tupper uses bonus de when available. What is the 2023 depreciation for this auto? Click here to access the depreciation table and click here to access the annual automobile depreciation limitations. Oa. $13,696 Ob. $19,200 Oc. $19,840 Od. $18,000 Oe. $12,400
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Section 179 Deduction and Modified Accelerated Cost Recovery System (MACRS) Depreciation
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