Lutz Corporation acquired a 100% business-use automobile (MACRS 5-year recovery) on July 1, 2013 for $64,000. The

Question:

Lutz acquired a 100% business-use automobile (MACRS 5-year recovery) on July 1, 2013 for $64,000. The company did not elect Sec. 179 expensing, but the company otherwise claimed the maximum depreciation deduction available, including 50% bonus depreciation. What is depreciation for 2013-2015, and any subsequent years?
Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...