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16. A company car is used 60% for business and 40% for personal use. Annual tax depreciation is $16,000. Compute allowable depreciation if: The car
16. A company car is used 60% for business and 40% for personal use. Annual tax depreciation is $16,000. Compute allowable depreciation if:
- The car is owned by a corporation and driven by an employee.
- The car is owned by Joans sole proprietorship and driven by employee Jim.
- The car is owned by a sole proprietorship and driven by the owner.
Please show work, thank you!
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