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A Toyota Crown motor car was purchased for $2,750,000 (the exchange rate was $100 JMD to one United States Dollar (USD)) and sold 3
A Toyota Crown motor car was purchased for $2,750,000 (the exchange rate was $100 JMD to one United States Dollar (USD)) and sold 3 years afterwards. The motor vehicle was used 100% for the purposes of the trade. The tota allowances on this motor vehicle over the three year period (ignoring any possible balancing allowances) would be: Select one: O a. $687,500 O b. $343,750 $1,581,250 O d. $1,031,250
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