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1.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

1.A company car is used 60% for business and 40% for personal use. Annual tax depreciation is $16,000. Compute allowable depreciation if:

  1. The car is owned by a corporation and driven by an employee.
  2. The car is owned by Joan's sole proprietorship and driven by employee Jim.
  3. The car is owned by a sole proprietorship and driven by the owner.

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