24. On January 1, 2021, Anna leases and places into service an automobile with a FMV of $61,000. The business use of the automobile is 60%. The "inclusion amount" for the initial year of the lease from the IRS tables is $26. The annual lease payments are $11,000. What are the tax consequences of this lease? A) deduction for lease payments of $6,584 B) deduction for lease payments of $6,574 C) deduction for lease payments of $6,600 D) deduction for lease payment of $6,626 25. On January 1, 2021, Stone Corporation acquires all of the net assets of Pebble Corporation for $2,000,000. The following intangible assets are included in the purchase agreement: Assets Goodwill and going concern value Licenses Patents Covenant not to compete for five years Acquisition Cost $105,000 $ 45,000 $ 60,000 $120,000 What is the total amount of amortization allowed in 2021? A) $15,000 B) $22,000 C) $31,000 D) $38,000 26. In calculating depletion of natural resources each period A) cost depletion must be used. B) percentage depletion must be used. C) the greater of cost depletion or percentage depletion must be used. D) the smaller of cost depletion or percentage depletion must be used