9-41 Section 280F Calculations. In the current year, H purchased a new automobile for $70,000. The $ 179 immediate expensing election is not made, and the taxpayer has elected out of the additional first year bonus depreciation for this asset class for this year. Use the most current limits from Exhibit 9-11 in responding to the questions below. a. Assuming the car is used solely for business, prepare a depreciation schedule illustrating the amount of annual depreciation to which H is entitled assuming he holds the car until the entire cost is recovered. b. Assume the same facts as (a) except the car is used 80% of the time for busi- ness and 20% of the time for personal purposes. Compute the current year's depreciation deduction